Buying a new iQOO or Redmi smartphone has now become more expensive.
iQOO has increased the prices of several of its popular smartphones, including the flagship iQOO 15, iQOO 15R, and iQOO Neo 10.
Xiaomi’s Redmi brand has also raised the price of the Redmi Turbo 5.
This is part of a wider trend, as brands like OnePlus, Vivo, and Oppo have also increased smartphone prices due to rising component costs.
Notably, this is not the first time iQOO has raised the prices of these models.
New Prices of iQOO and Redmi Phones
The biggest price hike has been seen on the iQOO 15. The base 12GB + 256GB variant now costs ₹85,999, while the 16GB + 512GB model is priced at ₹93,999.
The iQOO 15R now starts at ₹53,999 for the 8GB + 256GB variant. The 12GB + 256GB model costs ₹59,999, while the top-end 12GB + 512GB version is available for ₹66,999.
The iQOO Neo 10 has also become costlier. The 8GB + 256GB variant is now priced at ₹43,999, while the 12GB + 256GB model costs ₹48,999.
Redmi has also revised the price of the Redmi Turbo 5. The base 8GB + 256GB model now costs ₹41,999, while the 12GB + 256GB variant is priced at ₹46,999.
How Much More Expensive Are These Phones?
Compared to their launch prices, these smartphones have become significantly more expensive.
iQOO 15: Launched at ₹72,999, now priced at ₹85,999 — up by ₹13,000.
iQOO 15R: Launched at ₹44,999, now priced at ₹53,999 — up by ₹9,000.
iQOO Neo 10: Launched at ₹33,999, now priced at ₹43,999 — up by ₹10,000.
Redmi Turbo 5: Launched at ₹37,999, now priced at ₹41,999 — up by ₹4,000.
Why Are Smartphone Prices Increasing?
The main reason behind these price hikes is the rising cost of memory and storage chips (DRAM and NAND).
Demand for AI technology has pushed memory manufacturers to supply more chips to AI data centres.
At the same time, companies are focusing on producing high-bandwidth memory (HBM), which has reduced the supply of regular memory chips used in smartphones.
As a result, smartphone makers are facing higher production costs, and many of them are passing these costs on to customers through higher prices.
