Manufacturers slashing the price of their previous models following the release of a new one is not a new practice. Xiaomi just announced two new flagship phones and they’ve decided to follow the same pattern by reducing the price of the Mi 5. If you head to the official online store, the new price changes have been effected.

The standard edition with 3GB of RAM and 32GB of storage sells for 1599 Yuan ($240). If you want one with a lot more storage (64GB) but with the same RAM, you’ll have to pay 1799 Yuan ($270).

The high end version which features a 3D glass body, 4GB of RAM and 128GB of storage sells for 2399 Yuan ($360), while the ceramic edition is priced at 2499 Yuan ($375). Do note that the price is the same irrespective of the colour you choose.

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For those who have been postponing purchasing the Xiaomi Mi 5 just  so they can see if the Mi 5s is worth buying, you might want to factor in the new price difference too. While the Mi 5s does have a bunch of new and cool features, the original Mi 5 is still better than a whole lot of other devices out there. It uses the second best chip in the world, has NFC, and its camera isn’t bad.

The only other device that can beat the pricing of the Mi 5 (standard edition) is the base model of the LeEco Max 2 which sells for about $250 or less on various sites and offers an extra GB of RAM.

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