On August 2, several flagship models of Xiaomi smartphones saw a price increase ranging from 300 to 500 Chinese yuan. Among them, the Xiaomi 17 Pro Max saw the largest price hike. The topic of “Xiaomi raising prices on multiple smartphones” trended on Weibo on the 2nd of August.
According to a report by the Securities Times on August 2nd, a store clerk at a Xiaomi store near South Fourth Ring Road in Beijing disclosed, “Last night, we received a price adjustment notice, and most of Xiaomi’s flagship models have had their prices raised.” Furthermore, “This is the third round of price increases for Xiaomi this year, starting from the low-end and mid-range models and now extending to the flagship models.”
The store clerk mentioned that the timing of the price hikes by Xiaomi this year is somewhat unusual: “In previous years, flagship models usually see price reductions to clear inventory before the release of the new Xiaomi 18 series, so it’s rare for prices to increase just before a new release.”
The store clerk speculated that the core reason for this round of price adjustments is the continuous price surge of storage chips upstream, putting pressure on the overall device cost that cannot be absorbed internally.
At present, the prices on Xiaomi’s official website have been updated on August 2nd. For instance, the price of REDMI Turbo 5 increased from 2299 yuan to 2599 yuan, Xiaomi 17 Pro rose from 4999 yuan to 5399 yuan, and the price of Xiaomi 17 Pro Max was directly raised from 5999 yuan to 6499 yuan, a 500 yuan increase, marking the largest hike.
Affected by the continuous increase in storage chip prices, several mainland Chinese smartphone manufacturers have announced price adjustments since March, including OPPO, OnePlus, and vivo. Xiaomi and Honor have also raised prices on multiple models.
Apart from smartphones, the PC and office hardware market has also experienced price hikes. Huawei announced a price increase for its entire series of smart collaboration terminals starting from July 1, 2026. Lenovo also plans to raise the prices of all its product categories after a big promotion in June, and has advised distributors to stock up in advance to lock in prices.
A member of the Expert Committee on Information and Communication Economy under the Ministry of Industry and Information Technology, Pan Helin, told the newspaper that the main reason for the price increases in smartphones, computers, and other terminal products this time is the significant rise in storage chip prices.
Data from TrendForce shows that the spot prices of DRAM and NAND flash memory have accumulated a price increase of over 300%. By May, global DRAM and NAND flash memory prices have continued to climb, reaching new historic highs.
Pan Helin also mentioned that the construction cycle of new storage capacity is about two years, combined with supply bottlenecks in manufacturing equipment, the actual implementation period of new capacity will be further prolonged, making it difficult to reverse the tight supply situation in the short term.
Industry insiders believe that in the latter half of this year, mainstream Chinese smartphone brands may see a second round of price adjustments, with expected price increases ranging from 200 to 800 yuan.