Xiaomi has increased the cost of Xiaomi Redmi Note 5 Pro and Mi LED TV 4 55 by Rs 10000 and Rs 5000 respectively with effect from May 1. The sudden increase in the price took fans by surprise. Manu Kumar Jain, XIaomi India CEO took to Twitter and revealed the news of the price increase.
Jain added that the pricing philosophy of the company has always been a cost-plus model. Moreover, the company strives hard to manufacture premium products at an affordable price.
The increase in the price of Redmi Note 5 Pro and Mi LED TV 4 is due to the huge demand and the recent changes in tax structure on PCBA imports. Moreover, depreciation of the rupee is also a major cause for the steep increase in the price.
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
To boost production of Redmi Note 5 Pro and Mi LED TV 4, the company is planning to import a significant amount of PCBAs from China. The local PCBA production facility is capable of achieving 100 percent output only by CY Q3 2018.
Talking into account all the factors, Xiaomi has increased the price of the 4GB RAM and 64GB storage model of the Redmi Note 5 Pro by Rs 1000. The revised price will be Rs 14999 and will be available from Mi.com, Flipkart, and retail stores.
When it comes to the Mi LED TV 4 55-inch, the company has increased the price by a massive Rs 5000. Hence, you will have to pay Rs 44999 starting May 1 from Mi.com and Flipkart. The reason for the increase in the price is due to the changes in the import tax structure coupled with rupee depreciation.
