Xiaomi Redmi Note’s first sale in India was announced to commence on 2nd December and like other Xiaomi+Flipkart flash sales, the stocks got over within a blink of an eye. Almost 50,000 units were sold out in 6 seconds on Flipkart, where almost 350,000 users had registered for the sale.
The ones who could manage to grab the phone are now selling it at a premium on sites like OLX, eBay India and Quikr. They are even looking for potential buyers on social media sites like Facebook and Twitter. Officially the Redmi Note is priced at INR 8,999 but the people who bought it are blackmarketing it at higher price as much as INR 16,498. A similar situation was observed when Xiaomi Mi3 was launched earlier this year.
Xiaomi told BGR, that it was an unfortunate situation and they would request the companies to take down the listings. However, the company also shared that they would honor the warranties bought off these websites.
This is one of the ways a brand is devalued online, where the product is being black marketed in extremely high price, almost double of what the official price of the product is.
Unavailability and demand of the product is the main reason that triggered black marketing. Xiaomi puts very limited handsets on sale, which get over within seconds and the willing buyers are left in vain. As the company had made a decision to go offline this time, no subsequent lead is available about the same. Maybe, this new step of theirs can help curb the black marketing of handsets.