Xiaomi, which calls itself India’s number one smartphone brand, has now become the second company to raise prices of its smartphones, following an identical move earlier by Realme. On Saturday, the Chinese company announced that it was increasing the price of some of its products in India. The common reason behind the price hike being the depreciating rupee value against the dollar.

The company has several budget smartphones in the market in India that boast of some premium features but are priced very economically. However, that is set to change as Xiaomi India has hiked the prices of the Redmi 6, Redmi 6A, Mi Powerbank 2i and Mi TVs.

It must be recalled that these smartphones, when launched a few months ago in September, were given competitive price tags and Xiaomi had categorically mentioned that it would revise the prices in the near future. As the rupee has continued on a downward spiral, Xioami has taken this step despite the fact that it might have negative effect on sales.

The company was quoted in a report by India Today saying, “As you are aware, rupee has depreciated against the dollar by nearly 15 per cent since the beginning of the year, which has resulted in a significant rise in the input cost for us. To offset this, a few of our products will witness marginal price adjustment and will now move from their introductory price phase announced during their launch in September.”

The products that will be affected by this new move include the Redmi 6, the Redmi 6A, Mi LED TV 4C Pro 32-inch, Mi LED TV 4A Pro 49-inch and 1,000mAh Mi Power Bank 2i. Notably, the new pricing came into effect from November 11 itself, immediately after the announcement.