Xiaomi says that it’s celebrating its “Market Leadership” and giving something back to its consumers when it makes profit exceeding 5 percent.
Xiaomi is permanently slashing the price of some of its smartphones in India and buyers will now be able to buy the Redmi Note 5 Pro, the Mi A2 and the Redmi Y2 at a discounted price. The 4GB+64GB and 6GB+64GB variants of the Redmi Note 5 Pro have received a Rs 1,000 discount and will now retail for Rs 13,999, and Rs 15,999 respectively. The 4GB+64GB and 6GB+128GB models of the Mi A2 will be up for sale at Rs 15,999 and Rs 18,999 respectively, after receiving the Rs 1,000 price cut. The 4GB+64GB model of the Redmi Y2 will be priced at Rs 11,999, down from its previous price of Rs 12,999.
Xiaomi says that this sudden price cut is as a part of its "philosophy of honest pricing" and giving something back to the consumers when the company makes more than 5 percent profits. This comes after the recent IDC report of Xiaomi shipping 11.7 million unit smartphones in Q3 this year and being the top smartphone manufacturer in the Indian smartphone market with 27.3 percent share. It should be noted that the company is speculated to launch the Redmi Note 6 Pro in India at an event on November 22 and this would be the best time to clear out older stocks. The new prices are effective immediately and across all sales platforms.
The price drop comes soon after Xiaomi hiked the prices of its Redmi 6A, Redmi 6, Mi LED TV and Mi Power Bank 2i in India. The company says that the reason for the price hike is the depreciating value of the Indian Rupee, which fell by nearly 15 percent against the US Dollar. The price of the 2GB RAM + 16GB storage variant of the Redmi 6A has received a hike of Rs 600 and it is now priced at Rs 6,599, up from its launch Rs 5,999. The 3GB RAM/ 32GB storage variant of the phone will now cost Rs 7,499 after getting a hike of Rs 500. The Redmi 6 3GB RAM/32GB storage will cost users Rs 8,499 after a hike of Rs 500.
The Mi TV 4C Pro 32-inch and the Mi TV 4A Pro 49-inch get a hike of Rs 1,000 and Rs 2,000 respectively. They will now cost Rs Rs 15,999 and Rs 31,999 respectively. The 10000mAh Power Bank 2i is also now available for Rs 899, after a Rs 100 price hike.