Xiaomi is going to increase prices on its smartphone and TV lineup due to component shortages

xiuaogagd.jpg

As most tech enthusiasts know, GPUs around the world have a hike in pricing due to the shortage of processors. Many experts are predicting the same for various tech gadgets and Xiaomi agreed as well. This is because the company revealed that their smartphones and TVs lineup is now slightly more expensive starting from July onwards.

So how slightly more expensive would it be? Well, sources say that Xiaomi could increase up to 3 to 6% more. As mentioned earlier, the short supply of components contributed greatly to the price hike. Since the pandemic is still going on, more people bought gadgets for work and entertainment at home. Below is what Xiaomi's spokesperson stated:

"Due to massive demand-supply mismatch, the majority of components used in smartphones, Smart TV and other electronics gadgets (chipsets, display panels, display driver, back panels, battery etc) have seen constant upward movement in their prices. While we have tried to absorb the increasing costs, some of our products have witnessed a price hike. We also foresee an inevitable increase of 3-6% in prices of our smart TVs from July 1 onwards,”

With that in mind, we have to brace ourselves in the coming months of expensive tech gadgets due to the market's demand. Still, stay safe and stay tuned for more trending tech news at TechNave.com.