Redmi And Poco Announce Smartphone Price Hikes From March 1

Price Increase Announced

  • Smartphone users will experience price hikes starting from March 1 2023. Redmi and PocoChinese brands have increased prices for their multiple product lines. Samsung and Vivo and iQoo have already increased their product prices. Redmi and Poco now follow the same step.
  • The price increase will fall between Rs. 1,000 and Rs. 2,500. The final price depends on the model and storage variant.

Poco Models Affected

Abhishek Yadav revealed that the current price for Poco C75 (4GB + 64GB) model stays at Rs. 8,499. Starting on March 1 the price will rise to Rs. 10,999. The 4GB + 128GB model will experience a price increase of Rs. 2,000.

Poco will increase prices for its upcoming products:

  • Poco M7
  • Poco C85 5G
  • Poco M7 Plus 5G
  • Poco F7 5G

The price increase will range between Rs. 1,000 and Rs. 2,000 depending on the specific variant.

Redmi to Follow Similar Pricing

Redmi will implement identical price increases for its products. The updated prices for Redmi smartphones will launch on March 1.

Reason for Price Hike

  • The main reason for the price increase stems from the existing memory chip shortage. The global need for AI data centers has grown substantially throughout the world. This demand has reduced the supply of memory components for smartphone production.
  • The memory chip shortage has caused manufacturing expenses to rise. Smartphone companies responded to these expenses by modifying their product prices.

Other Brands That Increased Prices

  • Vivo and its sub-brand iQoo have already announced price hikes from March 1. The Vivo T4 series and the iQoo Z10 series will experience price increases that reach Rs. 2,500.
  • Samsung has increased the prices of multiple products. The Galaxy F17 model and Galaxy A36 model and Galaxy A56 model prices has increased by up to Rs. 2000.

Impact on Buyers

The price revisions may affect entry-level and mid-range buyers the most. Customers planning to purchase a smartphone may need to adjust their budgets. The changes reflect rising production costs in the global electronics market.