Samsung to Xiaomi hike smartphone prices by up to 40%
NEW DELHI, April 7 -- The West Asia war and a memory chip scarcity have finally spilled over into smartphone prices, with leading smartphone makers raising prices by as much as 40%.
India's top three smartphone brands Vivo, Oppo and Samsung, and their smaller rivals Realme, Xiaomi have raised prices across their portfolios, company emails to retailers show. The hikes are significant: smartphones make for India's single-largest electronics category, with sales of over $43 billion through 2025. However, the segment has struggled since the covid pandemic in 2021, as the market got increasingly saturated.
While companies so far managed single-digit revenue growth on the back of rising premium phone sales, the current market conditions come as a...
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