Xiaomi boss on increased prices: “I have to be honest with you”

Xiaomi boss on increased prices: "I have to be honest with you"

from Alexander Ney
As part of the presentation of the Xiaomi 12S series, company CEO Lei Jun asked customers for their understanding of the increased prices. In his unusually candid speech, the Chinese justified the rise in prices with his company’s “major investments”. It is very difficult to produce the best smartphone models, said Jun.

Xiaomi has been the largest smartphone manufacturer in the world since autumn last year – and is known to customers for its relatively low prices. However, during the presentation of the Xiaomi 12S series, Xiaomi boss Lei Jun admitted that he had to disappoint Chinese customers “for the first time” in terms of sales prices. The smartphones in the Xiaomi 12 series have become around eight percent more expensive in China – in Germany this would correspond to a price increase of around 68 euros, based on the recommended retail price of around 850 euros for a model with 8/128 gigabytes.

Xiaomi CEO: “We had big investments”

During the relevant presentation company boss Lei Jun stated verbatim after 106 minutes: “And now we have to talk about prices. I know that many Xiaomi fans look forward to the same prices for increased quality. 3,699 [Yuan für das Xiaomi 12]. I have to be honest with you guys. In the past few years, Xiaomi has been selling high-quality, affordable products. We’ve never disappointed you in terms of price, but today that might happen. Why? Because it is very difficult to produce the best models. We had big investments and we had to improve in every detail. And with every step we improved, we had to invest a lot of energy, so please understand and support us.”

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At the subsequent presentation of the Xiaomi 12 Pro, Lei Jun praised its 2K screen as “the best 2K screen”. This is very expensive, primarily because of the LTPO panel; this allows energy-saving refresh rates to be set. As a further cost factor, Jun mentioned the cameras with 50 megapixels and concluded the presentation with an explanation of charging with 120 watts via the company’s own Surge S1 chip. However, the price for the Xiaomi 12 Pro corresponds (“after some discussion with high-ranking employees”) to the previous model, which cost 4,699 yuan.

Source: via smart droid