As Malaysia’s currency woes continue to affect consumers, Xiaomi’s retail business is yet another to announce price increases to several of its products.
Given the Chinese giants business model of selling its products as close to their cost prices as possible, the depreciating Ringgit is a major factor that will affect the prices of its products sold in Malaysia. Starting from 12pm today, six of Xiaomi’s range of products available in Malaysia will see their retail prices raised between RM5 to RM70.
The six products affected by the price increase are as below:
Redmi 2 Enhanced: RM 529 (from RM459, up RM70 or 15.25%)
5000mAh Mi Power Bank: RM 39 (from RM34, up RM5 or 14.71%)
10400mAh Mi Power Bank: RM 59 (from RM49, up RM10 or 20.41%)
16000mAh Mi Power Bank: RM 89 (from RM79, up RM10 or 12.66%)
Mi Band: RM 69 (from RM59, up RM10 or 16.95%)
Mi Headphones: RM 369 (from RM319, up RM50 or 15.67%)
Note that other products not mentioned above, such as the Mi 4i or the Mi Note as well as the other accessories, are not affected by the price increase – for now.
Recently, Apple raised the prices of its devices in a few waves, starting from the iPhones, the iPads and then to the Macs. If Malaysia’s financial woes continue in its slump it won’t be a surprise to see other companies follow suit, as retail businesses are always the first to be hit by a depreciating currency.
(Source: Xiaomi Malaysia (Facebook))