Smartphones Could Get Even More Expensive Next Year Amid Rising Component Costs, Xiaomi President Warns
Xiaomi official has now warned that its product retail prices could rise even further next year, although the price hike may not be enough to absorb the soaring manufacturing costs. This is amid the shortage of key smartphone components such as memory chips, which as led to price hikes of up to 60 percent. Consequently, several flagship smartphones that offer AI-centric features have been heavily impacted, with their prices witnessing an uptick due to the rising chip costs.
