Coronavirus is having a major impact on the tech industry worldwide from and the latest company to get affected by the outbreak is Xiaomi. The company increased the price of its Redmi Note 8 smartphone in India because of the impact on its supply chain.
Xiaomi announced a hike of Rs 500 on the base model of Redmi Note 8 in India. The phone used to sell for Rs 9,999 for the 4GB RAM + 64GB ROM model, which is now available for Rs 10,499 following the price hike. The 6GB RAM + 128GB ROM model is still listed at Rs 12,999.
Xiaomi says that the price bump is only temporary and the phone is likely to return to its original asking price once the cost of component stabilises. At the time of writing, the new price of the Redmi Note 8 is reflecting on both the mi.com and Amazon India store.
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“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 prices of these components.” Xiaomi said in a statement. “This has led to an increase in the price of the product temporarily.”
Notably, while the 6GB RAM model of the Redmi Note 8 is available at its normal pricing, the 4GB RAM model is listed as out of stock on both mi.com and Amazon. The Xiaomi website does not mention when the device will be available to buy but the phone’s product page on Amazon India website says that the Redmi Note 8 will be back in stock on February 18, 2020.
The Coronavirus has claimed a total of 1,369 lives across the world and most of the cases have been from mainland China. In the wake of the outbreak, the Mobile World Congress in Barcelona has also been called off.
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