Brace yourself: Xiaomi warns of a ‘sizeable rise’ in smartphone prices next year

• Xiaomi's president has warned that smartphone prices could increase a lot
• This is due to the rising cost of memory chips
• Memory pricing would affect all phone brands, not just Xiaomi

If you thought smartphones were expensive now, you could be in for a shock next year, as according to Xiaomi President Lu Weibing, their prices could be in for a “sizeable rise.”

This claim was made during an earnings conference call (via Reuters), with the rising cost of memory chips being the reason given.

You see, memory chips are in high demand right now, as they’re used in artificial intelligence servers, so prices for memory chips are soaring, and that will also affect the price of the memory used in phones.