Xiaomi Raises The Price Of Redmi Note 5 Pro & Mi TV 4, Promises Increase In Supply

Citing changes to the import taxes and depreciation of the rupee, Xiaomi has increased the prices of the Redmi Note 5 Pro (only the 4GB RAM and 64GB storage variant) and 55-inch Mi TV 4. Both the Redmi Note 5 Pro and MI TV 4 were launched by Xiaomi on Valentine's Day and have since been selling like hotcakes in the country. The demand has been so great that Xiaomi has constantly been running out of stocks, with flash sales lasting only a couple of seconds.


$1 USD in INR from January 1, 2018 to April 30, 2018 (source: tradingeconomics.com)

Xiaomi imports the Mi TV 4 from its homeland China and manufactures the Redmi Note 5 Pro entirely in India. In order to meet the high demand, Xiaomi is importing "significantly more" TVs and PCBAs for manufacturing the Redmi Note 5 Pro. The recent increase in import taxes and devaluation of the rupee has added on to the cost price of the two products so much so that Xiaomi has had to increase the price of the Redmi Note 5 Pro and Mi TV 4 by Rs 1000 and Rs 5000 respectively. The 4GB+64GB variant of the Redmi Note 5 Pro will now cost Rs 14,999 with the 55" Mi TV 4 costing Rs 44,999.

The new prices will be effective tomorrow on Mi.com, Flipkart, Mi Home and other offline stores. Xiaomi says that it will be honoring all the preorders of the Redmi Note 5 Pro which were made at the old price. Following the upscale in the supply of PCBAs, Xiaomi says that it expects to make one million Redmi Note 5 Pro every month.

Here's the complete statement issued by Xiaomi.

Dear Mi Fans,

As you know, Xiaomi’s pricing philosophy has always been a “cost-plus” model. We strive to make the highest quality products available to all at honest pricing for all of you.

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.

To ensure the steady supply of Redmi Note 5 Pro, we are marginally increasing the price of Redmi Note 5 Pro 4GB + 64GB variant by INR 1,000 to partly cover the above costs. It would be available at INR 14,999 starting Tuesday, 01 May 2018, on Mi.com, Mi Home stores, Flipkart and other offline stores.

We would be honouring all pre-orders of Redmi Note 5 Pro 4GB + 64GB already placed on Mi.com at the original price of INR 13,999. We hope that with the substantial increase in the manufacturing capacity, we would be able to do a monthly volume of one million Redmi Note 5 Pro.

In addition, in order to meet the demand of Mi LED TV 4 55”, we are also importing significantly more TVs. Due to the recent import tax structure change and the rupee depreciation this year, we are marginally increasing the price of Mi LED TV 4 55” by INR 5,000 and it will retail at INR 44,999 starting Tuesday, 01 May 2018, across Mi.com, Mi Home stores, and Flipkart.

We are positive that our increased supply will satisfy our customers’ growing demands, bringing more joy to everyone.

Source: Xiaomi

[Featured image credits - Xiaomi]

Krittin Kalra

Krittin Kalra is a 20 year old Android freak. Striving for passions, chasing down his dreams and living a life without regrets is his sole mantra. A bit moody, he also does custom ROM reviews for AndroGuider. Currently pursuing his B.Tech, he aspires to follow his heart.