New Delhi. Chinese smartphone maker Xiaomi said that it will increase the prices of its smartphones and smart TVs in India by about 3-6 percent from today. This is because the company is facing the problem of shortage of components and high shipping charges. A Xiaomi India spokesperson said that the supply chain has been lacking since last year.

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It also said that due to large-scale demand-supply mismatch and more components being used in smartphones, smart TVs and other electronics gadgets, their prices have seen a steady increase. Due to the continuous increase in the prices of the products, not only Xiaomi but all the technology players have been affected. The company spokesperson said that we have tried to bear the rising cost but the prices of some of our products have increased. At the same time, we are also expecting an increase of 3-6 percent in the prices of our smart TVs from July 1. At the same time, the prices of smartphones are also expected to increase by some percent.

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Rest of the companies present in the LED television sector can grow by 3 to 4 percent. Because the cost of TV panels has increased in the global market. Apart from this, there has also been an increase in the logistic expenses. In April also, there was an increase in ocean freight charges and domestic transportation cost.

According to a joint report by industry body, CEAMA and Frost & Sullivan, the TV market is expected to grow from 175 lakh units in 2018-19 to 284 lakh units in 2024-25. It also said that chips for open-cell panels and TVs are mainly imported from China, apart from a few other markets such as Taiwan, Thailand and Vietnam. At the same time, only last mile assembly is done in India.