Xiaomi CEO Lei Jun has addressed the ongoing smartphone price hikes affecting various companies, including his own.
Several brands have recently raised prices on their current models, and future devices are also rumored to face the same dilemma. Some include Vivo, iQOO, Realme, OnePlus, Nothing, and more. Xiaomi is also not an exception.
Xiaomi Group President Lu Weibing earlier explained that this is due to the growing trend of AI, with memory manufacturers now focusing on data center production rather than producing more for smartphones.
“I expect pressure to be much heavier next year than this year,” the executive noted. “Overall, consumers are likely to see a sizeable rise in product retail prices. Some of the pressure may have to be addressed through price hikes, but price increases alone won’t be enough to digest it.”
In light of the upcoming threat, Xiaomi Founder and Chairman Lei Jun acknowledged the situation. While he didn’t deny the matter, the executive assured that the company would find 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. (Machine translated)
The news follows earlier reports saying that the Xiaomi 17 and Xiaomi 17 Ultra could debut with price hikes in some global markets, including in India. The models are now available in Europe and have retained their predecessors’ prices.
