Beijing-based Chinese smartphone maker Xiaomi has announced that they have increased the price of its newly launched Redmi Note 5 Pro and Mi LED TV 4 55-inch. The smartphone with its 64GB variant has become a hit in the Indian market. It was being sold for Rs. 13,999. Now the Redmi Note 5 Pro price increase has retailed it at Rs. 14,999. Meanwhile, the Mi LED TV 4 55-inch will retail at Rs. 44,999 (an Rs. 5,000 increase).
The prices have been increased from today i.e. 1st May 2018, on Mi.com, Flipkart, Mi Home stores and other offline outlets. The company has said that all the pre-orders will be sold at the original price of Rs. 13,999 (64GB variant). The Asian company expects that this will lead to more volumes of Redmi Note 5 Pro being manufactured in a month.
Xiaomi in a post for Mi fans said, “We have been seeing a huge demand for Redmi Note 5 Pro and Mi LED TV 4 55. In order to ramp up supply for Redmi Note 5 Pro, we are importing a significant amount of PCBAs as our local PCBA production would only ramp up 100% by CY Q3 2018. With the recent changes in tax structure on PCBA imports and the depreciation of the rupee (by ~5% since the beginning of the year), this has resulted in a significant increase in costs for us.”
The company further explained through the post that the import of televisions has increased. The Mi LED TV 4 55-inch and Redmi Note 5 Pro price increase has happened due to the recent import tax structure change and the rupee depreciation in 2018.
Both the devices were launched in India in February 2018. The company hasn’t been able to meet the demands, as its high. So the price is elucidated by the company. The company has also started Redmi Note 5 pre-orders in April 2018.
The Mi LED TV and Redmi Note 5 Pro price increase won’t really disrupt Xiaomi’s stand while competing in the Indian market. Its main competitors are Asus (ZenFone Max Pro M1, with stock Android and dual camera at Rs. 10,999) and Oppo. In the television sector, their main competitor is VU and Kodak.