A few days ago, Xiaomi officially announced the highly-anticipated Mi 6. As expected, the smartphone offers great specs at the price, although it may not offer quite as much value as its predecessor.
Pricing for the Xiaomi Mi 6 starts at RMB 2,499, which is around $360 based on today’s exchange rate. This is higher that some might have expected, however, as the smartphone actually costs 25 percent more than the Mi 5, which started at RMB 1,999 ($290) when released.
According to a report by Strategy Analytics, Xiaomi claims that its flagship is more expensive because of higher component prices. This may be true, but only to a point. Over the last few years, we have seen a lot of Chinese companies increase their prices with each new flagship device.
Huawei has been doing it with its P series, which is gaining traction among smartphone lovers in Western markets, especially in Europe. OnePlus has opted for the same strategy, as the 3T is currently the most expensive device the company has ever produced. It looks like Xiaomi is now joining this list, which might not be a good thing.
Companies like Xiaomi have gained popularity thanks to their affordable, high-end devices. But if they raise prices too much, particularly in the ultra-competitive Chinese market, it might cause consumers to take their business elsewhere.
That being said, the Xiaomi Mi 6 still looks like a fantastic deal at $360, despite being more expensive that its predecessor. But if the trend of increasing prices continues in the future, Xiaomi’s upcoming flagship smartphones might not be quite as interesting as they are now.