Handset companies hike prices on high GST

“The rupee has depreciated significantly against the US dollar. Since we maintain less than 5% profit margin for all our hardware products, we have no option other than to increase prices,” Manu Jain, India head at Xiaomi, India’s leading handset maker, said in a note to customers.

from Tech-Economic Times https://ift.tt/2X3nKIK