Xiaomi has announced that the recently released Redmi Note 5 will have a hike in price worth INR 1,000, effective from Tuesday May 1. The statement explained that the price hike is the company’s ongoing push towards ramping up the supply of the smartphone while facing the recent increase in the rates of the PCBA import taxes and the depreciation in the value of the Rupee since the start of 2018.
The smartphone will start priced at Rs. 14,999 for the 4GB RAM variant. The 6GB RAM variant will still cost just Rs. 16,999, same as before. The MD of Xiaomi India, Manu Kumar Jain, made the announcement and explained the price hike in a tweet saying: “In order to ramp up supply for the Redmi Note 5 Pro, we are importing a significant amount of PCBAs as our local PCBA production would only ramp up to 100 percent by CY Q3 2018. With the recent changes in tax structure on PCBA imports and the depreciation of the rupee (by around 5 percent since the beginning of the year), this has resulted in a significant increase in costs for us.”
Mi fans! In order to ramp up supply for #RedmiNote5Pro & #MiTV4 (55), we’re marginally increasing the prices. This is because of the recent changes in PCBA import taxes & INR depreciation.
This will help us bring more units to all of you!
Read more: https://t.co/T6aykphV0q pic.twitter.com/3NrgS4sxFd
— Manu Kumar Jain (@manukumarjain) April 30, 2018
