Depreciation of Rupee against the US dollar also a concern
According to Xiaomi's official statement, the increased GST rate on mobile phones as well as the significant depreciation of the Rupee against the US Dollar has left "no option" for the company other than to increase the prices of its products.
POCO X2 has become costlier by Rs. 1,000
Xiaomi's sub-brand POCO has also announced a price hike for its recently-launched POCO X2 smartphone. The company's general manager in India, C Manmohan, has revealed that the mid-range handset has become costlier by Rs. 1,000.
As for the updated prices, the entry-level 6GB/64GB variant now costs Rs. 16,999 while the 6GB/128GB and 8GB/256GB models are priced at Rs. 17,999 and Rs. 20,999, respectively.
Redmi K20 series has received a hike of Rs. 2,000
Further, according to Flipkart's listing, the Redmi K20 series has received a hike of Rs. 2,000. The regular K20 model now starts at Rs. 21,999 for the 6GB/64GB model while the K20 Pro variant is now listed at Rs. 26,999 for the entry-level 6GB/128GB configuration.
New prices for some models yet to reflect on mi.com
According to Xiaomi's official announcement, the new prices of the smartphones will reflect on mi.com. However, at the time of writing, most of the models were listed at their old prices.
For instance, the Redmi K20 was still priced at Rs. 19,999 while the Redmi Note 7 Pro (4GB/64GB) was listed at Rs. 9,999 as against its new price of Rs. 10,999.