Xiaomi has today announced the price hike on its two products, the Redmi Note 5 Pro and Mi TV 4 in India. The company has increased the price of the smartphone by Rs 1,000 and Mi TV 4 by Rs 5,000. The price hike will be effective from May 01, 2018.
After the price hike, the 4GB RAM variant of the Redmi Note 5 Pro will be available at a price of Rs 14,999. The smartphone with revised price will be available on Mi.com, Mi Home stores, Flipkart and other offline stores. The price hike is in line with a recently increased tax on PCBA imports in India. However, the company has clarified that customers who have already pre-ordered Redmi Note 5 Pro will get it at the original price of Rs 13,999.
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
“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 said in a blog post.
Similarly, the company has hiked the price of its flagship, Mi LED TV 4 by Rs 5,000. The TV will now retail at a price of Rs 44,999 and it will be available from Mi.com, Mi Home Store and Flipkart.