Xiaomi is hiking the prices of its smartphones and smart TVs in India
TL; DR
- Xiaomi is increasing the prices of its phones and smart TVs in India by up to 6%.
- The company blames supply chain bottlenecks for making its products more expensive.
Xiaomi is increasing prices for its phones and smart TVs in India. According to the PTI wire service (via Lively mint) Xiaomi announced the price increase in India on Wednesday. The Chinese company said its phones and televisions would be 3% to 6% more expensive from July 1.
The reason Xiaomi’s decision to raise prices in India is due to a lack of components and higher shipping costs. A spokesman for the brand said supply chain bottlenecks have been prevalent since last year and also referred to global chip shortages.
“Due to the massive discrepancy between demand and supply, most of the components used in smartphones, smart TVs and other electronic devices (chipsets, screens, display drivers, back panels, batteries, etc.),” added the spokesman for Xiaomi India.
Xiaomi had previously indicated that it would further optimize its hardware costs because there were not enough chips available. “To be honest, we’ll do our best to offer consumers the best possible price. But sometimes, in different cases, we have to pass some of the cost increase on to the consumer, ”said Wang Xiang, president of Xiaomi, discussing the company’s fourth quarter earnings Reuters.
Xiaomi has been quietly increasing the prices of some of its phones in India over the past few months. For example, the Redmi Note 10 has already been 1,000 rupees more expensive since its launch in April.
The company hasn’t specified what other models of its phones and TVs will be affected, but if you’re in the market for a Xiaomi device, now might be a good time to buy one before prices go up.
