Realme might be following in the footsteps of Xiaomi as company CEO Madhav Sheth, tweeted today, that a price hike in their product post-Diwali is very likely,
Sheth posted on Twitter that the company is holding back because of Diwali but will make a decision soon citing downfall of rupee as the reason.
As the gap between rupee and dollar increases, we’ve seen smartphone companies have started to elevate the prices. However, this will not please the buyers who are out for a bargain in India. For the record, this is the reason why customers have always opted to buy Chinese products.
The rupee rates are falling and as a brand we actually work on low margins. It indicates that we might have to upgrade the pricing, just to make sure that we continue to give you the best technology in our upcoming offerings. We are trying to figure out a solution post Diwali.👍
— Madhav Sheth (@MadhavSheth1) November 2, 2018
During the unveiling of Redmi 6 back in September 2018, Xiaomi came out to be the first of all with a price hike on the phones and later was followed by other Chinese brands. If we see the value of rupee, it has been crumbling from 71 to almost 75 which hints that Xiaomi could also start increasing the rates even more.
For the last quarter of months, the rupee had a disappointing run and this could even go worse. Xiaomi India CEO, Muralikrishnan said that they have their eyes kept on how the Rupee flows and on the basis of that, they will decide on a potential price in the coming weeks.