Indian smartphone brands iQOO and Redmi have increased prices across their ranges as component costs soar due to a persistent shortage of memory chips, signalling rising pressures in the mobile industry.
iQOO has lifted the Indian prices of three of its smartphones at once, underscoring the pressure now facing handset makers as component costs climb. The company has updated its online store to reflect higher prices for the iQOO 15, iQOO 15R and iQOO Neo 10, while Redmi has also increased the price of the Turbo 5. The changes add to a wider round of pricing adjustments across the Android market, with several brands already passing on higher memory and storage costs to buyers.
The sharpest increase is on the iQOO 15. According to the company’s India store, the 12GB + 256GB version now costs Rs.85,999, up from Rs.72,999 at launch, while the 16GB + 512GB model has moved to Rs.93,999 from Rs.79,999. The iQOO 15R has also become more expensive, with prices now listed at Rs.53,999 for the 8GB + 256GB variant, Rs.59,999 for the 12GB + 256GB model and Rs.66,999 for the 12GB + 512GB configuration. The iQOO Neo 10 now starts at Rs.43,999 for 8GB + 256GB and Rs.48,999 for 12GB + 256GB.
Redmi’s Turbo 5 has followed the same pattern. Gadgets 360 said the handset now starts at Rs.41,999 for the 8GB + 256GB version and Rs.46,999 for the 12GB + 256GB model, compared with its earlier listed prices of Rs.37,999 and Rs.40,999. Separately, Gizmochina reported that Redmi had originally launched the phone in India at Rs.35,999 and Rs.38,999 for the same two variants, highlighting some inconsistency in published launch pricing. Either way, the direction is clear: the model is now more expensive than it was on arrival.
The underlying reason is a sustained shortage of memory chips. Industry reports cited by the outlets say rising demand from AI data centres has pulled supply towards high-value server components, while manufacturers have also prioritised high-bandwidth memory used in AI systems. That has reduced availability of standard DRAM and NAND for consumer devices, pushing up input costs for smartphones across budget, mid-range and premium categories.
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