Xiaomi Raises TV Prices
Xiaomi (1810.HK) sold the most TVs in China last year, coming 8 years after it entered the TV market, and and following the same metric in 2019.. Known for their ‘value,’ Xiaomi TVs continue to widen their reach and after entering the Indian TV market in 2018, captured the greatest TV share last year. All of that said, Xiaomi is not immune to the rapidly rising cost of TV components, particularly LCD panels, and has now joined many other TV brands by notifying customers that it would be raising TV prices..
The release indicates that the cost of materials (panels and chips) has been rising and is expected to continue to rise, which will force the company to ‘adjust’ the retail price of its TVs accordingly. The company states that it will take full advantage of the supply chain to ‘ensure’ that after the price adjustment, the product will still be very cost effective., and then goes on to list some of the company’s latest achievements. No mention as to when or by how much retail TV prices will rise, but it seems quite inevitable that as older component inventory dwindles those increases will occur.
The release indicates that the cost of materials (panels and chips) has been rising and is expected to continue to rise, which will force the company to ‘adjust’ the retail price of its TVs accordingly. The company states that it will take full advantage of the supply chain to ‘ensure’ that after the price adjustment, the product will still be very cost effective., and then goes on to list some of the company’s latest achievements. No mention as to when or by how much retail TV prices will rise, but it seems quite inevitable that as older component inventory dwindles those increases will occur.
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