Indian smartphone brands are capitalizing on a significant market opportunity as rising memory costs force Chinese manufacturers to focus on premium devices. According to reports from Business Standard, Shubham Singh, analyst at Counterpoint Research, noted that in Q2 2026, the number of brands in the sub-₹10,000 segment fell to 8 from 14 a year earlier. The ₹10,000-₹15,000 segment saw no new model additions, while the ₹15,000-₹20,000 category declined to 14 models from 16. Despite these reductions, Singh emphasized that this segment accounts for 51% of the overall smartphone market in Q2 2026, making it an attractive opportunity for new entrants. Meanwhile, Swiss Military has launched Alpine Club, a new sub-brand aimed at India's growing mass-premium travel gear market, with the segment estimated at nearly ₹5,000 crore within the broader branded travel gear market of around ₹7,500 crore. The company expects Alpine Club to contribute to a combined annual revenue target of around ₹1,000 crore across the Swiss Military portfolio over the next three years. As per Retail India News, Anuj Sawhney, Managing Director of Swiss Military, noted that India's travel gear market is undergoing a decisive structural shift, with demand expanding well beyond the exclusive premium segment.
Several Indian companies are entering or expanding in the smartphone market to capture this opportunity. Hyderabad-based Mivi is entering smartphones for the first time with its maiden offering launching November 24 at a price below ₹20,000. Noida-headquartered NxtQuantum Shift Technologies, run by former Realme India CEO Madhav Sheth, has already launched 11 models and variants under its AI+ brand, priced between ₹10,999 and ₹19,999. Fire-Boltt, known for smartwatches and audio products, has launched its Boltt smartphone range priced between ₹10,000 and ₹16,000, exclusively on Flipkart. Among established brands, Lava International offers smartphones in the category priced between ₹9,999 and ₹19,999, selling through online channels and around 800 offline distribution outlets. In the travel gear segment, Swiss Military's Alpine Club includes 36 SKUs across three hard-luggage collections—Miles, Helix and Vortex—priced between ₹6,500 and ₹7,500, positioned in the mass-premium category. The company is targeting value-conscious and aspirational consumers, particularly in smaller cities, with initial focus on markets including Delhi NCR, Telangana, Gujarat, Bihar and Jharkhand, with a broader emphasis on Tier-II and Tier-III cities.
Industry executives view this as an opportune market entry point. Midhula Devabhaktuni, co-founder of Mivi, stated that it's an opportune time to launch an Indian mobile brand in the under ₹20,000 segment as bigger global players with rising memory prices have shifted to the premium end. NxtQuantum, targeting a 3-4% share of the overall smartphone market this financial year, has focused on online sales through its partnership with Flipkart. Madhav Sheth explained that online sales help keep costs competitive for customers, avoiding the 30-40% distribution channel costs that consumers would eventually bear. Swiss Military's Alpine Club is targeting value-conscious and aspirational consumers, particularly in smaller cities, with the company planning to target a 5% market share for Alpine Club and expects the sub-brand to contribute around one-third of its revenue within the next three years. The company is initially focusing on markets including Delhi NCR, Telangana, Gujarat, Bihar and Jharkhand, with a broader emphasis on Tier-II and Tier-III cities.
Several brands are focusing on local manufacturing and innovation to compete effectively. Mivi has developed the phone's design in-house and introduced features such as noise cancellation in the device, with plans to eventually assemble phones itself. The company aims to become an original design manufacturer (ODM), designing and manufacturing its own devices while also making key components in-house. NxtQuantum, which targets a 3-4% market share this financial year, is focusing on online-only sales through its Flipkart partnership to maintain competitive pricing and avoid distribution channel costs. Swiss Military has invested around ₹60 crore in manufacturing capacity and an in-house product-testing facility, with products undergoing more than ten quality parameters including testing of wheels, handles, trolley systems and luggage bodies. The luggage range comes with a warranty of five years or more. As per Retail India News, Swiss Military has invested around ₹60 crore in manufacturing capacity and an in-house product-testing facility, with products undergoing more than ten quality parameters including testing of wheels, handles, trolley systems and luggage bodies.
