Xiaomi Group Partner and President Lu Weibing shared in a recent post why the brand’s smartphones are not yet experiencing price increases.
Smartphone brands have been suffering from rising memory costs driven by the AI boom. Xiaomi is one of the companies to admit the challenge. Despite that, almost all of its latest devices did not get a price hike, unlike those from Vivo, iQOO, Oppo, and OnePlus.
During an investor conference call, Lu Weibing was asked about the matter and explained the reason behind the decision.
According to the executive, the brand’s offerings are highly diversified, including smartphones, tablets, PCs, cars, home appliances, and more. As such, despite the memory price hike, he noted that the company can handle the cost for now. Yet, he underscored that surviving in such a setup won’t be sustainable.
“But I feel we can’t hold on any longer,” Lu Weibing shared (machine translated). “We will definitely talk to them. I hope that when we raise prices, consumers and users can understand that we’ve just held on a little longer than others.”
The news follows several brands’ announcements of smartphone price increases. To recall, even the costs of old models were recently adjusted by Vivo, iQOO, Oppo, and OnePlus. Xiaomi, on the other hand, said it would explore various ways to minimize the impact of the hike on consumers.
