Beijing: Xiaomi, China's leading smartphone manufacturer, has announced that surging memory chip prices have significantly increased the cost of producing its devices, leading to higher retail prices for consumers. This surge in component costs has impacted the pricing strategy of Xiaomi's newly launched Redmi K90 series.

In a statement on Weibo, Xiaomi's President Lu Weibing acknowledged the market's disappointment over the pricing of the new series, attributing it to unexpectedly high memory chip costs. He noted that the rising costs are "far beyond expectations" and could intensify further. The global demand for chips, driven by artificial intelligence applications, has tightened the supply of conventional chips used in smartphones, personal computers, and servers, sharply increasing

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