If what Xiaomi’s President said is right, people should upgrade their phones ASAP

Smartphones are about to get even more expensive, according to a prominently placed executive, which means this Black Friday could be the ideal time to upgrade.

Xiaomi President Lu Weibing has been speaking on his company’s third quarter earnings, and he had some interesting things to say about the immediate future of the smartphone industry.

Apparently, the ever-expanding AI bubble is forcing memory prices up for everyone, including smartphone manufacturers. As a result, next year’s smartphones could be set for a price rise.

“I expect pressure to be much heavier next year than this year,” he said (via Reuters). “Overall, consumers are likely to see a sizeable rise in product retail prices. Some of the pressure may have to be addressed through price hikes, but price increases alone won’t be enough to digest it”.

This makes me think two things. The first is that the OnePlus 15 is looking like an even bigger bargain, having actually reduced in price from the OnePlus 13 – albeit with a couple of notable rollbacks.

The other is that this coming Black Friday sales bonanza could be the one to spend in if you’ve been holding off on a new phone. Major phones may never again be as cheap as they’re going to be on (and around) 28 November.

Is Samsung set to buck the trend?

One company that seems to have found a way to mitigate such price rises is Samsung. According to ChosunBiz, the South Korean giant is negotiating a lower price for its Exynos 2600 chips by $20 to $30 per unit.

This would technically make the forthcoming Samsung Galaxy S26 series more profitable for Samsung, or at least work some headroom for that pricey memory.

What it probably won’t do, sadly, is make the phone cheaper than the Samsung Galaxy S25 for the consumer. But at least it indicates that we shouldn’t be getting an unwelcome price bump.

Given the doomy predictions of the Xiaomi President, that might be a result in itself.