Since the beginning of 2018, the rupee has depreciated by close to 15% and this has forced Xiaomi to hike the prices of certain products.
Since the very beginning in 2014, Xiaomi has been offering feature-rich products without any comprises on quality at cut-throat prices in India and it has grown on to become the most popular brand in a short span. It even overtook long-reigning Samsung as the numero uno brand in mid-2017 and continues to the lead the market.
But now, the company has been forced to increase the price of certain products due to the rupee depreciation. Since early 2018, there has been close to 15% rise in dollar value against Indian currency and this apparently has increased in the input cost in terms of procurement of components and labour charges.
To offset this, Xiaomi has decided to hike the prices of Redmi 6 (review), 6A, select Mi TV models and Mi Power bank in India.
The new prices will become effective starting November 11. Despite the hike in price, all the aforementioned devices are still the most cost-effective products in the market.
In a related development, Xiaomi’s Redmi 6A, 6 and Redmi 6 Pro are now available on leading e-commerce sites including on Mi.com via an open sale. Some firms are offering lucrative exchange deals.
