NEW DELHI: For many Indian consumers, owning an iPhone remains a status symbol. So, it would be easy to assume that Apple dominates smartphone purchases made through easy monthly instalments. The reality, however, is quite different.Samsung is the country’s leading smartphone brand in terms of devices sold through financing, followed by Vivo and Apple, according to Counterpoint Research. Oppo and Xiaomi round out the top five, indicating how brands with a strong offline presence are outperforming rivals in fast-growing EMI market. The research firm estimates that financing – including loans from non-banking finance companies (NBFCs) as well as credit and debit card EMIs – will account for 42% of India’s smartphone sales in 2026, up from 35% in 2025. The shift comes as rising component costs continue to push up smartphone prices, making one-time purchases less attractive.“India’s smartphone market has remained under pressure in first half of the year due to rising memory prices, and this trend is expected to intensify further. Against this backdrop, smartphone financing is gaining ground as a primary purchase mechanism,” said Tarun Pathak, research director at Counterpoint Research. He added that around 67% of financed smartphone sales are backed by NBFCs, with demand particularly strong in Tier-2 and Tier-3 cities where credit card penetration is relatively low.Prachir Singh, senior analyst at Counterpoint, said, “Samsung’s strategy to use Samsung Finance+ as well as other financing options is working in its favour.” Singh said retail-heavy brands such as Samsung, Vivo and Oppo enjoy higher financing penetration because offline stores allow consumers to better understand loan scheme.