Xiaomi televisions are currently 3 to 6 percent more expensive in India. All retail prices for smart televisions have been raised by the company. Owing to the poor supply of components from China due to COVID-19 and the slow movement of supplies, Xiaomi has raised the prices of televisions in India. Xiaomi said that due to cost pressure, shortage of components, and shipping charges, the company has no other option to increase prices.
The Xiaomi spokesperson said they tried to absorb the rising costs but were unable to do so.
As well as Xiaomi televisions, the company also revised the prices of other products, such as Mobile Phones. For example, Redmi Note 10, the most affordable Redmi smartphone, was introduced at Rs 11,999 in the nation but later was increased by Rs 500 for both variants in the country.
Now, the company’s televisions will also see a price increase. Xiaomi sells TVs under the Mi and Redmi brands in the country. According to a company representative, the televisions under the brand will be available with a price increase of 3-6 percent. From July onwards, Mi and Redmi Smart TVs will be available at the new price.
Xiaomi has not done this for the first time. Xiaomi raised the TV prices by over 11 percent in the last few months, while its competitor, Realme, also restructure the prices of its Smart TVs by up to over 15 percent. OnePlus hiked the prices of its intelligent TVs by around 7 percent.
Besides Chinese players, Noida-based Super Plastronics Pvt Ltd (SPPL), an exclusive brand licensee for Thomson and Kodak TVs in India, raised the prices of some models by 15 percent as well.
The increasing costs are due to the higher cost of display panels. The cost of chipsets has been increased by 20 percent. The recent increase in the price of televisions could be due to increased prices of Open Cells in the market. India currently imports Open Cells for smart televisions from China and Vietnam, and there has been a shortage of supply recently. The recent price hikes for TVs will probably lead to new avenues for India’s smart TV manufacturing ecosystem.