Xiaomi, Redmi, Poco Smartphones Receive Price Hike Due To GST Rate Revision

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We recently saw that there will be a hike in the smartphone pricing in India due to the increase in the GST rate to 18% from the previous rate of 12%. This hike has come to effect from the midnight of April 1, 2020 and it had led to a price hike in the smartphones from Xiaomi.

Xiaomi Price Hike
 

The Indian government revised the GST rate earlier this month and pointed out that the smartphones could witness a price hike due to the same. As the GST revision has been implemented, Xiaomi has announced that the new pricing will be reflected on Mi.com. In addition to Xiaomi, even Oppo has announced price hikes of up to Rs. 2,000 and other brands will also follow suit.

Xiaomi Smartphones Price Hike

Well, the Xiaomi Global VP Manu Kumar Jain revealed that the company's policy of maintaining a profit margin of less than 5% has left them with no other options. Xiaomi is forced to increase the cost of its smartphones. Besides the hike in the GST rate, there is a depreciation in the value of Indian Rupee against US Dollar and this is another reason for the company to increase the cost of its smartphones.

Price Hike On Flipkart
 

Price Hike On Flipkart

Notably, the Redmi, Poco and Mi smartphones are said to get the price hike. Already, the price hike has been reflected on Flipkart. Going by the same, the Poco X2 with 6GB RAM + 128GB ROM is listed for Rs. 17,999 instead of Rs. 16,999. The cost of the Redmi K20 with 6GB RAM + 64GB ROM is increased by Rs. 2,000. Even the 6GB RAM + 128GB ROM variant of the Redmi K20 Pro has received a similar price hike.

What We Expect

What We Expect

We can expect Xiaomi to update its website with the new pricing of smartphones soon. As of now, there is no word regarding the revised pricing of these smartphones on Amazon and the official Mi.com website. We can expect the same to be revised sometime soon.

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