Xiaomi has joined the list of smartphone brands that are hinting at a possible steep price increase in future devices.
The brand announced the news during its third-quarter earnings report. While the Xiaomi 17 series undoubtedly achieved success by selling 2 million units, the company didn’t deny that a price increase could occur in the future for its smartphones.
Xiaomi Group President Lu Weibing explained that the reason behind this is the growing trend of AI, with memory manufacturers now focusing on data center production instead of creating 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.”
This news from Xiaomi is not a surprise, as Francis Wong, Realme’s Global Head of Product Marketing, also shared the same sentiment. Wong explained that the imminent price hike will be caused by the increasing cost of storage and memory components, particularly the NAND Flash, DRAM, and SSD. Moreover, the hike is already expected to happen for the global version of its Realme GT 8 Pro. According to leaks, the phone may have a €100 price increase in Europe compared to its predecessor. The OnePlus 15, which was recently launched in India, has also received a ₹ 3,000 price increase. Xiaomi’s upcoming Redmi 15C in India is also reportedly priced higher than its predecessor.
