Xiaomi Mi4 64GB Gets ₹4,000 Price-Cut; Exchange Offer Also Available with Additional ₹5,000 Cashback

Chinese smartphone maker Xiaomi has slashed Mi4 64GB model's price in India.

"Our well-loved Mi 4 64GB is now Rs. 4,000 off. Available for ₹19,999, down from the original launch price of ₹23,999. Lower costs have enabled us to reduce the price of Mi 4 64GB, and this translates into savings that our Mi fans can enjoy," reads the Xiaomi India Facebook wall post.

Though the company claims that the Xiaomi Mi4 64GB is getting ₹4,000 price-cut, but it's actually ₹2,000. Mi4 64GB, which was launched in February this year, came with a price-tag of ₹23,999, but its price was reduced to ₹21,999 in April; now it has received another ₹2,000 discount, taking the tally to ₹4,000 off, compared to its inaugural price.

This offer is valid only on Xiaomi Mi4 64GB model, whereas the 16GB variant will continue to be sold for ₹17,999.

Furthermore, Xiaomi's official e-commerce partner Flipkart is offering cashback deal on both the 16GB and 64GB models. Prospective buyers, who are ready to part with their old phones, stand a chance to get discounts of up to ₹5,000. [More Information, HERE]

This means Xiaomi Mi4 16GB and 64GB variants can be bagged for as low as ₹12,999 and ₹14,999 respectively.

Xiaomi's announcement comes close on the rival OnePlus's permanent $50 price-cut on the flagship smartphone One.

Early this week, OnePlus reduced the prices of 16GB White Silk and 64GB Sandstone Black to $249 (around €221/₹15,920), whereas the 64GB model (with-out Dropbox Pro bundle) costs $299 (around €265/₹19,120).

This price-cut is currently available in select markets (US, Canada and Europe Union) for a limited period, but it is still to take effect in Amazon India website, many believe it will happen soon.

[Read more: OnePlus Reduces 'One' Smartphone Price by $50, Offers Dropbox Pro Bundle at Concessional Rate]

Xiaomi anticipating the same has taken the lead over OnePlus by offering discounts in India on Mi4.

Both Xiaomi Mi4 and OnePlus One Plus boast identical features sans the screen size.

Key specifications of OnePlus One and Xiaomi Mi4: