Smartphones Get More Expensive in India as iQOO and Redmi Hike Prices by Up to ₹13,000

iQOO and Redmi have revised smartphone prices in India, with models like the iQOO 15, iQOO 15R, iQOO Neo 10, and Redmi Turbo 5 seeing increases of up to ₹13,000 due to rising memory component costs.

Consumers planning to buy a new smartphone in India will need to allocate a higher budget as leading mobile brands update their product pricing. Smartphone maker iQOO has implemented significant price increases across several models listed on its official online store, including the iQOO 15, iQOO 15R, and iQOO Neo 10. In tandem, Xiaomi sub-brand Redmi has revised the prices of its recently introduced Redmi Turbo 5 series, highlighting an industry-wide trend driven by rising manufacturing expenses.

Price Revisions for iQOO 15 and iQOO 15R Series
The flagship iQOO 15 lineup has experienced the steepest increase in retail prices. The base variant featuring 12GB RAM and 256GB internal storage, which originally debuted at ₹72,999, is now listed at ₹85,999, representing a direct hike of ₹13,000. Similarly, the top-tier configuration with 16GB RAM and 512GB storage has jumped to ₹93,999 from its initial launch price of ₹79,999.

Significant upward revisions have also affected the iQOO 15R model lineup. The 8GB+256GB storage configuration, which was introduced at ₹44,999, now carries a price tag of ₹53,999. The mid-tier 12GB+256GB model has seen its price rise from ₹47,999 to ₹59,999, while the highest variant offering 12GB+512GB storage has increased from its launch cost of ₹52,999 to a revised price of ₹66,999.

Updated Costs for iQOO Neo 10 and Redmi Turbo 5
The iQOO Neo 10 series has also undergone substantial price increases across its surviving configurations. The 8GB+256GB model, originally launched at ₹33,999, is now priced at ₹43,999, while the 12GB+256GB variant has climbed from ₹35,999 to ₹48,999. Notably, the entry-level 8GB+128GB variant, which was previously available for ₹31,999, has been officially discontinued by the manufacturer.

Meanwhile, Redmi has updated the pricing structure for the Redmi Turbo 5 handset. The 8GB+256GB model is currently retailing at ₹41,999, up from its original launch price of ₹37,999. The higher 12GB+256GB option, which initially hit the market at ₹40,999, is now offered at ₹46,999.

Supply Chain Pressures and Rising Component Costs
The upward price adjustment is not restricted to budget or mid-range devices; it spans across premium flagship devices as well. Major industry peers including OnePlus, Vivo, and Oppo have also raised retail prices on select models in recent weeks. Industry analysts point to escalating costs for core internal hardware, particularly DRAM and NAND flash memory components, as the primary catalyst behind these pricing shifts.

The surging global demand for artificial intelligence technologies has prompted memory component suppliers to shift a substantial portion of their production capacity toward high-bandwidth memory required by AI data centers. Consequently, supply constraints for standard smartphone components have inflated procurement costs for hardware manufacturers, maintaining upward pressure on mobile retail prices for the foreseeable future.

What this means for you
Across India: If you are planning to buy an iQOO or Redmi smartphone, you will need to budget between ₹4,000 and ₹13,000 more compared to their launch prices.

Impact on Tech Buyers: Escalating costs for memory components mean that other smartphone brands like OnePlus, Vivo, and Oppo are also increasing prices across various budget and flagship models.

Questions & Answers

1. Which iQOO model received the highest price hike?
The base 12GB+256GB model of the iQOO 15 received the highest price increase of ₹13,000, bringing its new price to ₹85,999.

2. What is the primary reason behind these smartphone price increases?
The main driver is the rising cost of DRAM and NAND memory components, triggered by global demand for high-bandwidth memory in AI data centers.

3. Has any model of the iQOO Neo 10 been discontinued?
Yes, the base 8GB+128GB variant of the iQOO Neo 10, originally launched at ₹31,999, has been officially discontinued.

4. What are the updated prices for the Redmi Turbo 5?
The Redmi Turbo 5 is now priced at ₹41,999 for the 8GB+256GB model and ₹46,999 for the 12GB+256GB model.

5. Have other smartphone brands also increased prices?
Yes, major brands including OnePlus, Vivo, and Oppo have also recently raised prices for several smartphone models.

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