Xiaomi Redmi Note 5 Pro and Mi TV 4 55-inch Get Rs 1000 and Rs 5000 Price Hike
Xiaomi has announced that it will increase the price of Xiaomi Redmi Note 5 Pro and Xiaomi Mi TV 4 55-inch 4K TV in India. Xiaomi Redmi Note 5 Pro with 4GB RAM and 64GB internal storage version price hike by Rs. 1000 that will now cost Rs. 14,999, while Xiaomi Mi TV 4 55-inch 4K HDR TV is getting Rs. 5,000 hike and will cost Rs. 44,999.
The reason for the price hike is due to importing of PCBAs to ramp up the supply due to huge demand for the Redmi Note 5 Pro and Mi TV 4 55-inch. The government recently imposed a 10 percent tax on imports of PCBAs. Xiaomi also blames depreciation of the rupee (by ~5% since the beginning of the year) for the significant increase.
Earlier this month Xiaomi announced local manufacturing of PCBA units, and is expected to ramp up its production close to 100% within Q3 2018, so there are changes the price might come down later this year. Xiaomi believes that the substantial increase in the manufacturing capacity, will help them achieve the monthly volume of one million Redmi Note 5 Pro.
Last week Asus launched the Zenfone Max Pro M1 in the country that undercuts the pricing of the Redmi Note 5 Pro. We should know for the sale later this week to find out if Asus grabs this chance to beat Xiaomi.
The price change comes into effect from May 1 on Mi.com, Mi Home stores, Flipkart and other offline stores. Xiaomi says that all the pre-orders of Xiaomi Redmi Note 5 Pro 4GB RAM and 64GB storage already placed on Mi.com will be available at the original price of Rs. 13,999.
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