rupee depreciation adding pressure on pricing: xiaomi - printed circuit board assembly
New Delhi, November 22 ()
Xiaomi said on Thursday that the rupee fell against the dollar, adding pricing pressure to India's Chinese tech giants, especially in the highly competitive mobile phone market.
Xiaomi, whose two phones, Redmi 6 and Redmi 6A, rose earlier this month as the rupee depreciated against the dollar, as well as electricity banks and some television sets.
"The rupee has fallen by about 15 since the beginning of this year.
Although we produce mobile phones and power banks in India, raw materials and PCBA (
Printed circuit board assembly)
Bought in dollars. "This (depreciation)
Put pressure on us. . .
Vice President Xiaomi said: "We hope to continue to provide our customers with 'honest price'
India's president and general manager, Manu Jaun, told reporters here.
To offset the impact, the price of various products has increased from Rs 100 to Rs 2,000 from November 11.
In April, Xiaomi founder and CEO Ray said in June that the company will keep its net profit below 5 to earn "long-term profits"
"Long term support" for customers ".
India is the main market for Xiaomi, which is actively expanding its portfolio and offline business (
Through Mi Home, Mi preferred partner and Mi store)
Its goal is to continue to dominate the Indian market.
According to research firm IDC, Xiaomi is leading the competitive Indian smartphone market with 27 smartphones.
3% share, followed by Samsung (22.
6% share), Vivo (10. 5 per cent), Micromax (6. 9 per cent)and Oppo (6. 7 per cent).
Xiaomi released Redmi Note 6 Pro on Thursday--
From RS 13,999--
Features of artificial intelligencepowered quad-camera setup.
The latest device is the successor to the Note 5 Pro with 6. 26-
Qualcomm Snapdragon 636 octa-inch display-
Core processor, 64 gb memory and 4,000 battery.
It has two variations. -
4 GB and 6 gb ram.
"Every generation, we improve the overall experience of smartphones and bring the best specs ---
Whether it's battery, camera or performance.
"Redmi Note 6 Pro offers a meaningful upgrade to the best-selling Redmi Note 5 Pro," said Anuj Sharma, Xiaomi India's chief marketing officer . ".
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