Xiaomi’s latest mid-range smartphone in India, the Redmi Note 8 receives a price hike, the reason behind it is the wild coronavirus. Xiaomi, one of the largest smartphone manufacturers in China has been hit by the coronavirus outbreak which impacts on the supply chain.
The coronavirus is creating supply chain problems for Xiaomi which leads to the price hike. The company has announced that the price for the Redmi Note 8 in India will be increased by Rs 500.
The cost of the Redmi Note 8 before the hike is Rs 9,999, however, the increased price will be Rs 10,499. This is for the variant 4 GB RAM and 64 GB Storage only, the prices for the other variants are unchanged.
Xiaomi says that the price hike is temporary and the Redmi Note 8 is likely to return to its original price once the cost of component stabilizes. Moreover, the Redmi Note 8 which is also available on Amazon is currently out of stock, however, Xiaomi ensures that it will be back in stock soon.
“The extended shutdown in China is likely to have an impact on our Supply chain and, there is a risk of impact on the overall quantum of component supplies. While we are working to explore alternative supply channels for components and raw materials, the immediate impact is that the short supply might cause some negative pressure on the prices of these components. This has led to an increase in the price of the product temporarily,” a Xiaomi spokesperson told Gadgets 360 explaining the reasoning behind the price hike.
