Smartphone buyers in India have received another shock. iQOO has simultaneously increased the prices of iQOO 15, iQOO 15R and iQOO Neo 10. At the same time, Xiaomi's sub-brand Redmi has also increased the price of Redmi Turbo 5. This price increase comes at a time when the prices of memory and storage components are continuously increasing, making everything from budget to flagship smartphones expensive.
**Biggest increase in iQOO 15**
The price of iQOO 15 has increased the most. The model with 12GB RAM and 256GB storage is now available for ₹85,999 (its price at the time of launch was ₹72,999) and ₹93,999 (its price at the time of launch was ₹79,999). The price of iQOO 15R has also been set at ₹85,999; The 8GB + 256GB model is now priced at ₹53,999, the 12GB + 256GB model is priced at ₹59,999, and the 12GB + 512GB model is priced at ₹66,999.
**iQOO Neo 10 and Redmi Turbo 5 also became expensive**
The iQOO Neo 10 is now priced at ₹43,999 for the 8GB + 256GB variant, while the 12GB + 256GB model is priced at ₹48,999. Additionally, the starting price of Redmi Turbo 5 has increased from ₹37,999 to ₹41,999. Its 12GB + 256GB model is now listed for ₹46,999, whereas it was priced at ₹40,999 at the time of launch. As a result, many phones from both iQOO and Redmi are now available at higher prices than before.
Increase in smartphone prices
smartphone launch price new price
iQOO 15 ₹72,999 ₹85,999
iQOO 15R ₹44,999 ₹53,999
iQOO Neo 10 ₹33,999 ₹43,999
Redmi Turbo 5 ₹37,999 ₹41,999
Why are phone prices increasing due to lack of RAM?
This increase in smartphone prices comes amid the ever-increasing cost of memory and storage components like DRAM and NAND. Due to the increasing use of Artificial Intelligence (AI), RAM manufacturing companies are diverting a large portion of their supply towards memory used in AI data centers. Additionally, companies making smartphones and other electronic devices are focusing more on creating high-bandwidth memory. Due to this, the supply of standard memory chips is decreasing and their prices are increasing.