Xiaomi: Soaring component costs impact budget smartphones most
Xiaomi executive Lu Weibing highlights that rising component costs are most affecting budget smartphones. The new Redmi Note 17 series is set for launch on July 14.
Lu Weibing, Xiaomi Group partner, president, and head of the mobile phone department, has stated that the significant increase in component costs is having the greatest impact on budget smartphones, requiring more precise product definition. The company is preparing to launch its new Redmi Note 17 series on July 14.
He described the mobile industry as facing its most severe period in a decade, with runaway costs affecting the entire market. Budget phones are particularly hard-hit, leading to a decline in features like OLED displays, high-level waterproofing, and durable glass, which are becoming scarce in this price segment.
The Redmi Note 17 series is being marketed with an emphasis on quality and durability without price increases. Key features highlighted include extended battery life and robustness, achieved through a top-tier battery material system and optimized internal structure for maximum battery capacity within the Redmi line.
According to previous leaks, the Redmi Note 17 series may feature a large 9K battery, a 1.5K flat display, dual powerful speakers, and full water and drop resistance. The phones are also expected to utilize energy-efficient Snapdragon 6-series chipsets, positioning them as durable and long-lasting devices within the competitive budget smartphone market.