Xiaomi has increased the prices of two of its most popular products in India – The Redmi Note 5 Pro (4GB RAM variant) and the Xiaomi Mi TV 4 55-inch by Rs. 1000 and Rs. 5000, respectively. The based Redmi Note 5 Pro and Mi TV 4 55-inch will cost 14,999 INR and 44,999 INR, respectively starting from May 1, 2018.
Why has Xiaomi increased prices?
Xiaomi India CEO, Manu Kumar Jain cites an increase in PCBA import taxes (10%) and INR depreciation (~5%) as two reasons for the “marginal” increase in price. He says that the hike will partially cover the increased cost and help Xiaomi ramp up production for the two variants which are in huge demand.
Also Read: 5 Reasons to buy and to not buy Redmi Note 5 Pro
Mi fans! In order to ramp up supply for #RedmiNote5Pro & #MiTV4 (55), we’re marginally increasing the prices. This is because of the recent changes in PCBA import taxes & INR depreciation.
This will help us bring more units to all of you!
Read more: https://t.co/T6aykphV0q pic.twitter.com/3NrgS4sxFd
— Manu Kumar Jain (@manukumarjain) April 30, 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,” he said.
The company mentioned that it will be honoring all Redmi Note 5 Pro pre-orders placed on Mi.com at the original price of Rs. 13,999. The development also explains why Xiaomi canceled the last Redmi Note 5 Pro flash sales.
By increasing production capacity, Xiaomi is targeting a monthly production of one million Redmi Note 5 Pro models in India.
The price of Redmi Note 5 Pro 6GB RAM variant and of other Mi TV 4A models retailing in India shall remain unchanged for now. Even at the new price, the Note 5 Pro looks like a good deal. Having said that, the competition is catching up pretty fast.
Xiaomi Phone and TV Price Increase
|Model||Old Price||New Price|
|Redmi Note 5 Pro (4GB RAM)||Rs. 13,999||Rs. 14,999|
|Mi TV 4 (55-inch)||Rs. 39,999||Rs. 44,999|