Updated: August 28, 2020 8:11:37 pm
Xiaomi is looking to increase the price of its smart TV range according to a tipster on Weibo, which was first spotted by GizmoChina. According to the tipster, the company is looking to increase the price of its smart TVs by Yuan 100 (approximately Rs 1,1000 to Yuan 300 (approximately Rs 3,300).
The rise in the price of smart TVs will be announced on August 28. He states that the hike is taking place due to the rise in the cost of LCD display panels. The display panels constitute a major part of a TV, considering it is the main component of the product. If the component cost were to increase it would directly affect the price of the final product.
There’s no confirmation on whether the increase in the price of televisions in China will also affect the Indian market. Xiaomi TVs sold in India are manufactured in India, which means a lot of their parts are also sourced locally. However, there are parts which need to be sourced from the outside like China. These are complex components not manufactured in India. If the cost of these components rise, the Indian prices could also increase.
The tipster has further stated that Xiaomi is not the only manufacturer increasing its TV prices. A number of other manufacturers have already increased the prices for their LCD TVs.
According to a separate report by TrendForce 32-inch and 55-inch LCD panels will see a price hike of around 10 per cent by the end of August. Other panel sizes including 50-inch, 65-inch and 75-inch will see an 8 per cent, 5 per cent and 1 per cent rise in the prices, accordingly.
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