Xiaomi has today announced a price drop on a number of smartphones in the Indian market, including Redmi Note 5 Pro, Mi A2, and Redmi Y2. Explaining the reason behind the price drop, the company said that the cost of components for some of Xiaomi’s phones have reduced.
Further, the company said that it has a philosophy of honest pricing where they have capped their profit margin to 5 percent for a hardware product. So, if the company makes more profit, it gives back to the Mi Fans, and this development is a part of that philosophy.
The company has permanently dropped the prices of Redmi Note 5 Pro, Mi A2, and Redmi Y2 by Rs. 1,000, which roughly converts to $14. The 4GB RAM model of Redmi Note 5 Pro now costs Rs. 13,999 (~$195) while the 6GB RAM model costs Rs. 15,999 (approx. $223).
On the other hand, the Mi A2 4GB RAM model is available for Rs. 15,999 (~$223) and the 6GB RAM model is available for Rs. 18,999 (approximately $264). The selfie-centric Redmi Y2 will now be available for Rs. 11,999 (approx. $167).
Moreover, Xiaomi was announced as the number one smartphone vendor in India for the 5th consecutive quarter, as per IDC Quarterly Mobile Phone Tracker. Xiaomi said that as a celebration of that achievement, it has announced the price drop.
This development is contrary to what the company had said earlier in September. During the Redmi 6 line-up launch in India, Xiaomi hinted towards price hike because of fluctuating currency and said that it’ll wait for a few months to see how INR performs against USD before taking such a move.