Since Xiaomi entered the mobile phone world, it has become popular as a company that offers high specifications at affordable prices and competes with companies like Samsung and OnePlus. However, that may soon change, based on the words of the company's CEO, Lei Jun.
According to Technode, Xiaomi will soon slightly increase the price of its smartphones in order to change its reputation as a company that produces cheap hardware.
Lei said: "Actually, we want to get rid of this reputation that our phones cost less than 2,000 RMB. We want to invest more in our devices and build better products.".
The report also states that the latest Mi 9 model was the company's last device priced under CNY 3,000 and that the upcoming smartphones will be a bit more expensive, but not excessively expensive.
It would be interesting to see how the change in Xiaomi's pricing strategies will affect the company as a whole.
Xiaomi's plan to change its reputation could backfire, as cheap hardware is the company's USP. Also, we can't ignore the fact that the company has so far managed to win a sizable user base in India, as well as China, and has acquired many loyal users.
