In some rather unfortunate news for our Indian readers, Xiaomi has confirmed its hiking up the prices for some of its smartphones and TVs by 3-6% starting today July 1. There are two main drivers behind the increased prices with the global chip shortage and increased shipping costs.
Due to massive demand-supply mismatch, the majority of components used in smartphones, smart TV, and other electronics gadgets (chipsets, display panels, display drivers, back panels, batteries, etc.) have seen constant upward movement in their prices.
While we have tried to absorb the increasing costs, some of our products have witnessed a price hike. We also foresee an inevitable increase of 3-6% in prices of our smart TVs from July 1 onwards. – Xiaomi India spokesperson
A quick comparison reveals the Redmi Note 10 now costs INR 1,000 more than it did at launch back in March. The recently launched Mi TV 4A 40 Horizon Edition is INR 1,000 more expensive now than it was at its launch a month ago.
Other key players in the TV and smartphone business are also expected to have similar price increases in the coming month.