The GST council had announced a hike in GST for smartphones from 12% to 18%. This 50% hike in GST was estimated to increase the prices of smartphones.
The new hike has been put into effect from April 1 and Xiaomi has already made it clear that they will be passing the hike to buyers by increasing the price of the all their smartphones.
The company released a statement saying the price hike will be effective from April 1. The company stated, “considering a few other factors and keeping with the Xiaomi policy of making <5% margin on our hardware products, we will be increasing the prices of our products.
New prices will be effective immediately." The company claims that the narrow margin for every smartphone sold in the country and the