Xiaomi Increases Prices of its Products Due to Components Shortage

Xiaomi on Wednesday revealed that prices of its TVs and smartphones in India will be increased by 3-6% at least, due to a shortage in various components.

The change in prices is already in effect, increasing the prices of Xiaomi and Redmi smartphones and smart TVs from 500-3,000, depending on their models and stock availability.

Xiaomi Products With Increased Prices

Xiaomi Increases Prices of its Products Due to Components Shortage

Due to various factors, including the rise of COVID-19 since last year, several manufacturing plants around the world have been shut. This halted production for many critical components, that fulfill a smartphone or a TV.

While this shortage directly impacted the OEMs, they’re indirectly passing on this to their customers. Xiaomi on Wednesday said that most of its smart TVs and smartphones will have their prices increased starting July 1st, due to a shortage of components.

These include displays, batteries, back panels, etc. Among all, chip shortage formed to be so significant and been troubling many. The Xiaomi spokesperson on Wednesday said,

“Due to massive demand-supply mismatch, the majority of components used in smartphones, Smart TV and other electronics gadgets (chipsets, display panels, display driver, back panels, battery, etc) have seen constant upward movement in their prices.”

Xiaomi has already increased the prices of Redmi Note 10 and Note 10 Pro last week, and now does the same with various TV and handset models. The change of prices will be affecting both the offline and online gadgets, says Xiaomi.

Apart from the components shortage, Xiaomi also cites the supply chain constraints affecting the prices. Lately, transportation through various means has cost them much, so did with the other industry players, triggering OEMs to pass these costs to customers.

While Xiaomi is trying to put the prices of its gadgets as affordable as possible to the community, uncontrollable external factors of such will surely have an impact on it, making it helpless and relying on customers indirectly.

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