Xiaomi, Redmi & Poco Smartphones Now Costlier in India Due To Increased GST Rate; Check New Prices Here
With the hike in the tax slab, the Chinese phone maker has eventually passed the same on to the customers by increasing the price of the smartphones. Moreover, Xiaomi India MD Manu Kumar Jain officially announced the price hike via his Twitter account.
With the new taxation rates in India coming into effect from today onwards, Xiaomi and its sub-brands have decided to hike prices for their smartphones. The GST council last month proposed to increase the Goods and Services Tax (GST) rates on smartphones in India from 12 to 18 percent. With the hike in the tax slab, the Chinese phone maker has eventually passed the same on to the customers by increasing the price of the smartphones. Moreover, Xiaomi India MD Manu Kumar Jain officially announced the price hike via his Twitter account. Xiaomi Mi 10 & Mi 10 Pro Sporting Snapdragon 865 SoC Launched; Check Prices, Variants, Features & Specifications.
The price hike on smartphones applies to the entire product portfolio of Xiaomi as well as its sub-brand' range, which includes Redmi and Poco. Xiaomi India Head also mentioned that the company follows a rule of not making a profit of over 5 percent through its hardware products. And, the increase in GST rates left the company no option but to hike the prices for its phones for the Indian market.
Tweet By Xiaomi India MD, Manu Kumar Jain:
The increased price structure on the Xiaomi, Redmi and Poco smartphones is visible on Flipkart. The Poco X2 handset now costs Rs 17,999 for the 6GB + 128GB variant, which was previously priced at Rs 16,999. The new prices for Poco X2 were officially confirmed by Poco India General Manager C Manmohan via Twitter. The entry-level variant with 6GB RAM & 64GB of storage will now retail at Rs 16,999 whereas the top-end model with 8GB of RAM + 256GB storage will be available in India at Rs 20,999.
On the other hand, the company has increased the prices of Redmi K20 and Redmi K20 Pro for the base variants by Rs 2,000. It is important to note that the new prices on Xiaomi, Redmi and Poco smartphones will be soon listed on the official website.
(The above story first appeared on LatestLY on Apr 01, 2020 11:19 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).