New Delhi: With change in GST rate on mobile phones in India from 12 to 18 percent . The asking price of phones will go up as well. Xiaomi India MD Manu Kumar Jain took to Twitter to announce that price of the company’s phones in India has been increased with immediate effect. It must be noted that the price increment is applicable across the complete portfolio of Mi, Redmi, and Poco-branded phones offered by the company in India.
Jain’s tweet mentions that Xiaomi follows a rule of not making a profit of more than 5 percent from its hardware products, but the increase in GST left the company with no other choice but to hike the price of its phones in India. We could not find the exact price hike but it could be 500 to 1000 rupees as sources told.