iQOO and Redmi smartphones face price hikes in India

Smartphone manufacturers iQOO and Redmi have implemented price increases on several models in India, with some devices rising by as much as ₹14,000. The price hikes affect various models, including the iQOO 15, iQOO 15R, and iQOO Neo 10, as well as the Redmi Turbo 5.

The iQOO 15 saw the most significant increase; its 12GB RAM and 256GB storage variant, originally launched at ₹72,999, is now priced at ₹85,999. The 16GB RAM and 512GB storage model has also risen from ₹79,999 to ₹93,999. Other affected models include the iQOO 15R, iQOO Neo 10, and the Redmi Turbo 5, which saw its starting price rise from ₹37,999 to ₹41,999.

Industry analysts attribute these rising costs to the increasing price of memory and storage components, specifically DRAM and NAND. The surge is driven by the growing demand for Artificial Intelligence (AI), as manufacturers redirect supply toward memory for AI data centers and high-bandwidth memory production, leading to a shortage and higher costs for standard memory chips used in smartphones.