From April, the central government of India has decided to hike the GST tax rate for smartphones from 12% to 18% and it affects all Indian smartphone companies.
Companies like Redmi, Realme, etc have officially announced on twitter that the company has increased the price of smartphones with immediate effect. Xiaomi India MD Manu Kumar Jain has announced the increased price will be applicable across all Xiaomi brands like Mi, Redmi and Poco phones.
By checking the major smartphone Brand, Redmi they introduced their latest Smartphone Redmi 9 Pro Max (6/64) at the price Rs. 14,999, and now it jumped to Rs.16,499.
All Indian Smartphone Brands have increased the price in the range between Rs. 500 to Rs. 5000.
“Mobile phones and specified parts to attract 18% versus 12%. All other items, if there’s a need to calibrate the rates, to remove the inversion, we can take them up in future, examination of that can happen at a later time,” said finance minister Nirmala Sitharaman.
As a result of the hike in GST rates, all smartphone companies are forced to increase prices, Everyone who is about to purchase a new smartphone is+ affected by this price hike.
However, this move is Especially to see all major smartphone makers announce a price hike on there smartphone in the coming days.