Xiaomi’s Lei Jun has urged consumers to upgrade their devices now, as an industry-wide hike is expected to continue over the next two years.
Smartphone prices have been continuously increasing in the past few months. Brands have been repeatedly mentioning the rising emory cost, prompting increases even in budget models.
During the Xiaomi 17 Max launch event, Lei Jun predicted that the crisis would continue for two more years. According to him, this would lead to higher price hikes in the future. As such, he suggested customers buy and upgrade their devices now rather than later.
To recall, Lu Weibing warned about the matter in November last year, noting that “some of the pressure may have to be addressed through price hikes, but price increases alone won’t be enough to digest it.”
In March, Lei Jun shared that the company was exploring ways to minimize the impact of the hike on consumers.
“I feel that we will think of various ways to reduce the difficulty of consumers, as much as possible,” Lei Jun shared.
Despite this, some of the brand’s devices have already been slapped with price increases, including the Redmi Note 15 Pro series in India.
