Ahead of the Redmi Note 6 Pro launch on November 22, Xiaomi reduces prices of Redmi Note 5 Pro, Mi A2 and Redmi Y2 by Rs. 1,000. The price drop is a celebration of the fact that Xiaomi was announced as the number one smartphone vendor in India for the 5th consecutive quarter, as per IDC Quarterly Mobile Phone Tracker, 14 November, 2018.
The company states that the reason for the price drop isi that they don’t target more than a 5% profit on any product, and if it accidentally crosses that barrier, they believe in passing on the savings to the customers. The price cut is also happened because the company has seen a reduction in component costs for their best selling phones.
Contrarily, Xiaomi recently announced via tweet that it would be re-evaluating its prices due to the rise in the gap between the Rupee and the US Dollar for select products.
