Xiaomi India has hiked the smartphone prices because of the economic situation prevailing in the country. According to company sources, the smartphone prices were hiked because of the increase in the GST rates from 12 percent to 18 percent with effect from April 1, 2020. Moreover, the Indian Rupee has depreciated significantly against the US Dollar.
The company revealed that they maintain less than 5 percent profit margin for their hardware products, which includes smartphones. Hence, they have no option other than to increase the prices. The revised prices will be effective starting April 1, 2020, and will reflect on Mi.com. The new prices will also reflect on Amazon and Flipkart when the companies restart business after the lockdown period.
Xiaomi has urged people to stay self-quarantined and observe the national lockdown diligently as announced by Prime Minister Narendra Modi. The company added that we should unite and come together to safeguard the people of our nation. Xiaomi also adds that their intention is to offer fans the best products with the highest specifications at honest prices. The company expects support from the tech-savvy people with regard to the price hike in this hour of crisis.
Xiaomi is not delivering products across India due to the 21-day lockdown imposed because of the COVID-19. The lockdown has impacted the functioning of their warehouses and logistics partners. Xiaomi will not accept any new orders until further notice. If you had ordered any product before the lockdown, then the company will initiate a refund as per the terms and conditions.
The company will continue to evaluate the situation and provide updates. The live chat is available on a limited basis. The offices are closed and live chat agents are available on a limited basis. The purchase links are disabled on the office Mi.com website. We have to wait and watch until the Government removes the 21-day lockdown. At this point in time, we can’t confirm whether the lockdown will be extended or not.
