Xiaomi (1810) has raised the prices of several flagship smartphone models by 300 to 500 yuan (HK$348.5 to 580.84) starting Sunday, according to mainland media reports citing Xiaomi Mall.
The Xiaomi 17 rose from 4,499 yuan to 4,799 yuan, the Xiaomi 17 Pro from 4,999 yuan to 5,399 yuan, and the Xiaomi 17 Pro Max saw the largest hike, jumping 500 yuan from 5,999 yuan to 6,499 yuan. REDMI also raised its price, with its performance-focused Turbo 5 and various versions of the K90 series generally increasing by 300 yuan.
The reports indicate that this price adjustment is due to the continued rise in upstream memory chip prices, which has led to a significant increase in production costs. A store clerk was quoted as saying, “This is Xiaomi's third round of price hikes this year, initially affecting entry-level and mid-range models before extending to flagships.”
Xiaomi’s president William Lu Weibing stated during a live stream in May that the price of some domestic bar-type flagship smartphones is likely to exceed 10,000 yuan by the end of the year.
"Even if Xiaomi raises prices, we will keep the increase to a minimum," Lu said.
Additionally, several other smartphone makers like OPPO, OnePlus, vivo, and Honor have announced price increases this year.
Industry insiders indicate that major Chinese brands may see a second round of price adjustments in the second half of this year, with expected increases ranging from 200 to 800 yuan.
