India, Aug. 22 -- There's little in common between Parle's Rs 5 biscuit pack and motor cars made by Maruti Suzuki India Ltd, except that both have been hit hard by a demand slump.

While the slowdown appears to have left few industries unscathed, it's clear that one area where Indian consumers are loath to skimp on is smartphones.

The latest data about India's smartphone sales bear out this assessment. Shipments grew nearly 10% in the April-June quarter, bucking the overall slowdown. What's more, top phone makers expect to better sales in the September quarter as it leads up to the festival season when consumers typically loosen their purse strings.

"We see absolutely no slowdown at all. In fact, there is a very positive momentum buildi...