Xiaomi's Mi TV Range Could See Price Hikes Soon, as Display Panel Costs Rise

Xiaomi TVs may see a price hike of CNY 100 to CNY 300 (roughly Rs. 1,100 to Rs. 3,200).

By Tasneem Akolawala | Updated: 27 August 2020 17:43 IST

Xiaomi's Mi TV Range Could See Price Hikes Soon, as Display Panel Costs Rise

Xiaomi is reportedly looking to increase the price of its TVs

Highlights

Price hike in LCD display panels may force Xiaomi to revise prices
Xiaomi may announce the new prices on August 28
TrendForce says 55 and 32-inch panels may see a 10 percent price hike

Xiaomi is reportedly looking to increase the price of its TV range soon. The reason for this hike has been attributed to the price rise in LCD display panels, a component that greatly determines the manufacturing cost of TVs. A fresh leak suggests that a price hike of CNY 100 to CNY 300 (roughly Rs. 1,100 to Rs. 3,200) can be expected. Analyst Faisal Kawoosa from TechArc also tells Gadgets 360 that the prices of other major components inside a TV may also be affected.

A tipster on Weibo, spotted GizmoChina, suggests that prices of mainstream Xiaomi TV models in the market may increase by CNY 100 to CNY 300 (roughly Rs. 1,100 to Rs. 3,200). The tipster hints that the price rise may be announced as soon as Friday, August 28. It is also expected that TV models from other brands may also see a price rise, mainly due to the reported continuous price hike on LCD display panels. As display panels constitute a major part of the TV manufacturing cost, the prices of mainstream TV models are expected to increase.

Gadgets 360 has reached out to Xiaomi regarding the reported increase in price and whether it will affect the Indian market as well. This report will be updated when we hear back.

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Kawoosa says that the LCD display panel price rise could be due to the surge in demand as the festival season nears. “There was a breakdown in supply chain due to COVID-19. So, supplies were interrupted and now we are getting into preparations for festive season, hence demand is surging. This has triggered the price rise. Not just for LCD panels, but it should affect other major components as well. Also, once a year prices are revised for all components which typically happens around this period,” Kawoosa explains.

Why Do Indians Love Xiaomi TVs So Much?

Market research firm TrendForce reports that 55-inch panels and 32-inch panels, in particular, are projected to see a price hike of about 10 percent in the month of August itself. Other panel sizes including 50-inch, 65-inch, and 75-inch panels are expected to record price hikes of 8 to 10 percent, five to seven percent, and one to two percent, respectively.

Why do Indians love Xiaomi TVs so much? We discussed this on Orbital, our weekly technology podcast, which you can subscribe to via Apple Podcasts, Google Podcasts, or RSS, download the episode, or just hit the play button below.

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