The iQOO 15 is set to launch in India later this month. And, it is set to get a major price hike. While an earlier report suggested that the effective price of iQOO 15 might be under Rs 60,000, Digit has learnt that the phone will cost around Rs 70,000 in the country. The brand may still offer some bank discounts to bring down the effective cost of the phone. However, it will still be a major price jump over the previous generation iQOO 13.
The higher pricing comes at a time when smartphone makers around the world are struggling with rising component costs, especially memory parts. Industry reports suggest that limited supply and increasing global demand have pushed up the cost of key materials used in high-performance phones. The recently launched OnePlus 15 was also impacted by the same, as it costs significantly more in India than in China.
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iQOO has traditionally priced its flagship phones around Rs 60,000 in India, often being the most value for money flagship device. However, Digit can confirm that this year’s model breaks the Rs 70,000 mark, narrowing the gap between the iQOO 15 and the OnePlus 15, which costs Rs 72,999. However, the effective price of the phone will still be less than Rs 70,000 with a combination of card offers and exchange deals.
On top of it, iQOO may also introduce long-term EMI deals to provide better value for its customers. While the phone may look expensive in comparison to the last generation, it might still be the most aggressively priced flagship phone of the year.
The rise in pricing is mainly driven by a global memory chip shortage. Memory components like DRAM and flash storage have become more expensive due to high demand and restricted supply. The increasing requirements from AI systems, cloud services and large data centres have pushed smartphone makers lower on the priority list for chip allocation.
As chipmakers focus on sectors with higher demand, the availability of memory parts for smartphones has reduced. This has pushed component costs upward, and brands such as iQOO are now forced to reflect these costs in their retail pricing.
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Digit understands that this trend is not only happening in India or with iQOO phones. Countries around the world are facing similar price pressure. Digit says the impact will not stay limited to premium models. Budget-friendly series like the OnePlus 15R and the iQOO Neo phones may also get costlier. If memory prices keep rising, buyers may see smartphone prices go up across many categories in the coming months.
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The iQOO 15 may feature a 2K OLED panel with 144 fps support and 2600 nits of brightness. It is expected to run on the Snapdragon 8 Elite Gen 5 chipset paired with iQOO’s own Q3 chip. The phone could offer a 50-megapixel Sony 2K periscope telephoto camera, a 7000mAh battery with 100W wired and 40W wireless charging, and Origin OS 6 with 5 years of Android updates and 7 years of security patches. It may also include iQOO’s first game stream livestreaming assistant.