Here's why your next Xiaomi smartphone will be among the cheapest

At a time when smartphones built by Chinese phonemakers like Xiaomi and Huawei are increasingly edging the competition to land on your wish list, buying them in the coming days wouldn't be as much a worry as with other premium smartphones.

Xiaomi is intent on keeping its smartphones cheap, at least for the next few years. Going by its existing smartphones, it’s safe to suggest that at their prices, they are better than similarly priced phones, and a sudden shift of manufacturing from China to India may soon keep their prices steady or even lower than present rates.

Foxconn, a Taiwanese contract manufacturing company that is best known for manufacturing iPhones, is setting up shop in India with an initial investment of $5 billion. Pouncing at the opportunity, Xiaomi has announced that it will be assembling its phones in Foxconn's plant, a move that signals a major shift owing to rising labour costs and stagnating demand in China.

Apart from Xiaomi's smartphones, Foxconn will also assemble future iPhones in its plant in India which means we could also see iPhone prices either coming down or staying flat in the coming years.

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