Xiaomi's Smartphone Pricing Strategy: A Disappointing Turn for Consumers

In a recent move, Xiaomi has introduced a new smartphone, the Redmi K90, with a higher price tag than its predecessor, the K80 series. This decision has left some consumers disappointed, as the base model now costs 2,599 yuan, equivalent to $364.89. Xiaomi's President Lu Weibing acknowledged the rise in memory-chip costs, which has impacted the pricing of their new line. However, the company has offered a temporary price cut for the first month of sales. Join us as we delve into the global chip shortage and its effect on Xiaomi's pricing strategy, and discuss the potential impact on consumers and the market.