Xiaomi’s products once again saw an increase in its price after the Rupee depreciated against the US Dollar. But this isn't the first time the Chinese smartphone maker Xiaomi has increased the price of its products. Earlier this year, Xiaomi increased prices for its devices including Redmi Note 5 Pro, Mi TV Series & Redmi Series.
Earlier this month Realme also increased the prices for its smartphone following the same reason. Madhav Seth, CEO Realme announced on his Twitter post and said that the new prices would come into effect after Diwali.
Manu Kumar Jain, Vice President, Xiaomi Global took it to Twitter to share the reason behind the increase in the price of its products. He also said that price may change if Rupee climbs up again in the coming months. Soon after the announcement on Twitter, the post was flooded with comments from the users. While most of them were positive we did see some users who weren't happy.
Mi Fans! INR has depreciated against US$ by ~15% since the beginning of this year, resulting in a significant rise in input costs.
We are adjusting the prices of Redmi 6, Redmi 6A, Mi Powerbank 2i & Mi TV (32" Pro & 49" Pro).
Aiming to always provide honest price! Details below: pic.twitter.com/ldOQasO4IH
— Manu Kumar Jain (@manukumarjain) November 10, 2018
List of Xiaomi Devices affected
The following devices have taken a hit.
- Redmi 6
- Redmi 6A
- Mi PowerBank 2i
- Mi TV
- Redmi 6A - The 2GB RAM + 16GB Storage variant of the device which was earlier available for INR 5999 will now retail for INR 6599. An increase of INR 600.
- Redmi 6A - The 2GB RAM + 32GB Storage variant of the device which was earlier available for INR 6999 will now retail for INR 7499. An increase of INR 500.
- Redmi 6 - The 3GB RAM + 32GB Storage variant of the device earlier available for INR 7999 will now retail for INR 8499. An Increase of INR 500.
- Mi PowerBank 2i - 10000mAh Black earlier available for INR 799 will now retail for INR 899. An increase of INR 100.
- Mi LED TV 4C Pro 32” - Earlier available for INR 14,999 will now retail for INR 15,999. An increase of INR 1000.
- Mi LED TV 4A Pro 49” - Earlier available for INR 29,999 will now retail for INR 31,999. An increase of INR 2000.
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Xiaomi also mentioned that they have always strived for high-quality products at a honest pricing and that they are not the company which runs after profit margins. For a company like Xiaomi which only makes about 5% profit from its hardware sales across the globe, such a price increase after the downfall of the rupee is justified.