(Image source from: x.com/IqooInd)
We are just a few days away from the release of iQOO 15, and we believe we have addressed the primary question many have regarding its price in India. According to previous reports by Gadgets 360, the company aimed for a price of around Rs. 60,000. However, due to rising costs of components, the price of iQOO 15 will be higher than initially stated. Nipun Marya, the CEO of iQOO, shared details about the upcoming iQOO 15 during a conversation with Gadgets 360, discussing pricing in India, customer feedback, and more. Interestingly, the increased cost of the iQOO 15 and similar devices this year is linked to AI as well. While many are discussing AI features in smartphones, the high demand for AI-related data centers is consuming the supply of memory chips, which is raising costs for phone manufacturers. A report from Reuters highlighted that the increasing prices of these memory chips will likely affect costs in various areas, including smartphones and computers.
Addressing the significant increase in component costs, Marya remarked, "The worry isn't just that prices are rising; it's how much they are rising. Samsung raised prices by 60% from September to November. That's the key issue. If the rise was only 5-10%, it could be managed easily. But this time, it’s 60%. It doesn’t seem like a brief trend. It appears to be a medium-term problem. This really impacts our industry." Discussing the iQOO 15, Marya suggested that the flagship model would be priced between Rs. 65,000 and Rs. 70,000, including launch offers. Naturally, this means the actual price could be even higher. "We will do our utmost to keep it affordable for our customers... consumers can expect to pay between Rs. 65,000 and Rs. 70,000 after offers... since the offers can vary depending on the payment method," he explained.
Comparing the iQOO 13 to the new iQOO 15, the improvements on paper seem substantial, following a no-compromise approach. "Our aim with iQOO has always been to produce an outstanding flagship device. We left no aspect untouched, from the display to the camera and software updates, including OriginOS and haptics," Marya noted. However, he recognized the unfortunate timing of the price hike. "We made sure everything was up to standard, but then suddenly this unexpected price increase occurs... Even though we've always pledged to deliver an excellent flagship, I believe that commitment will remain strong." Furthermore, Marya indicated that the company is planning various launch promotions to help reduce the impact of the rising component costs to some degree.
iQOO has established itself with aggressive pricing strategies for its smartphones over time. Nonetheless, the iQOO 15 will take a slightly different approach, and we aimed to learn more about iQOO India's intentions. "Customers will likely realize that if the costs of raw materials have risen, there are no other options available. I remember a while ago when the car manufacturing industry faced a shortage of chips. This led to wait times of a year. Sometimes situations go wrong, and all you can do is hope for improvements," Marya mentioned.
He also pointed out that this might be a problem affecting the whole industry. "No business can survive by taking on a 60% increase in costs. This has significant implications for our sector." When discussing prices in a challenging market, Marya noted that consumers don’t consider products in isolation. "They look at what A charges, what B charges, and what C charges. Our goal has always been to provide one of the best experiences and value, and I believe we'll keep doing that," he emphasized.
