The Redmi Note 5 Pro was launched in February this year, it has been in huge demand ever since. The lower variant of the phone was launched at a price of Rs. 13,999. Today, Xiaomi India’s MD Manu Kumar Jain announced on Twitter that the popular phone will be getting a price hike of Rs. 1,000. Thus, the revised price of the Redmi Note 5 Pro (4GB + 64GB) is now Rs. 14,999.
This will help us bring more units to all of you!
— Manu Kumar Jain (@manukumarjain) April 30, 2018
Along with this, the price of the newly launched Mi TV 4 55-inch is also hiked by Rs. 5,000 and it now costs Rs. 44,999. Pricing of both devices will be effective from tomorrow i.e. May 1st. However, the company has assured that people who have already pre-ordered the Redmi Note 5 Pro will not have to bear the additional cost.
Xiaomi explains that the increase in cost for consumers is due to a few factors which has led to the rise in production costs for the brand. The major reason stated by Xiaomi is the changes in the tax structure of the PCBA (Printed Circuit Board Assembly) imports. Since the Redmi Note 5 Pro is in high demand, the company needs to import additional PCBA’s than what is already being made in India. Another reason for the price hike is the depreciation in rupee, which has been close to 5% since the beginning of this year.
The Chinese brand claims that they are aiming to offer 1 million units of the Redmi Note 5 Pro every month after increasing the manufacturing capacity. However, price of the top variant (6GB RAM + 64GB storage) of the Redmi Note 5 Pro is still the same and it will retail at Rs. 16,999.
The same reason applies for the Mi TV 4 55-inch. As the televisions are imported from China, the recent tax structure changes and rupee depreciation has led to the increase in its costs as well.
What do you think about this decision by Xiaomi? Will you look for other options now that the price of two of the most popular Xiaomi devices have increased? Let us know in the comments below.