No April Fools’ joke: Xiaomi will increase cellphone costs attributable to GST charge hike

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No April Fools' joke: Xiaomi increases phone prices due to GST rate hike

“Xiaomi and says the new prices of its Redmi and Mi phones will reflect on Mi.com soon”

No, this isn’t an April Fools’ Day joke. Xiaomi has introduced that it has elevated the costs of its smartphones beginning midnight April 1st 2020. The transfer comes following the current hike in GST charge from 12 % to 18 % that comes into impact right this moment i.e April 1st. The GST revision introduced by the Indian authorities means smartphone costs shall be hiked. Xiaomi says the brand new costs will mirror on Mi.com quickly. At the time of scripting this story, the costs of Redmi and Mi telephones on Xiaomi’s web site had not been revised. According to Mahesh Khatri of Mumbai-based Mahesh Telecom, OPPO has additionally elevated the costs of its telephones whereas Vivo and different manufacturers will comply with swimsuit.

Xiaomi Global VP Manu Kumar Jain mentioned that the corporate’s coverage of sustaining lower than 5 % revenue margin has provided no selection however to extend the costs of its smartphones. In addition to the GST charge hike, the depreciation of the Indian Rupee towards the US greenback is another excuse why the corporate has been compelled to extend the costs of its smartphones.

Xiaomi will seemingly replace its web site with the brand new costs of its telephones quickly sufficient. We will report on the revised costs of Redmi and Mi telephones as soon as they mirror on Mi.com. That being mentioned, it’s best to anticipate telephones just like the Redmi Note 8 Pro, Redmi Okay20, and the lately launched Redmi Note 9 Pro, amongst others, to be barely costlier now. It shall be attention-grabbing to see how followers react to the revised costs, particularly almost about a model that has been recognized to supply telephones at aggressive costs. We also needs to know concerning the revised costs of telephones from manufacturers like OPPO, Vivo, Realme and different quickly.

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