If there's one smartphone that has catapulted Xiaomi into becoming India's biggest smartphone brand, then it has got to be the Redmi Note 4. The largest selling smartphone of 2017 has received what could probably be its last price cut before it bids goodbye, as Xiaomi has announced a Rs 1,000 price cut on the Redmi Note 4 64GB variant.

Redmi Note 4
Xiaomi Redmi Note 4 on Mi.comMi.com

The latest price cut comes as several reports suggest the Chinese company is prepping up to launch the successor to the Redmi Note 4 - Redmi Note 5 - in India anytime soon.

Also read: Xiaomi Redmi 5 with FullView display tipped to make global debut next month: Will it come to India?

Following the price cut, the Redmi Note 4 will be available for Rs 10,999 down from its regular retail price of Rs 11,999. However, the new price is applicable only on the Redmi Note 4 variant with 64GB storage and 4GB of RAM and on phones purchased via the online channels.

The Redmi Note 4 is available with the new price on Mi.com, Amazon India and Flipkart.

Meanwhile, this is the second price cut that the Redmi Note 4 has received in its life cycle. The smartphone had received its first price cut back in November 2017. However, this also looks like the phone's final price cut before the Redmi Note 5 comes to replace the ageing best seller.

To recall, Redmi Note 4 was launched in January last year, in three memory configurations: 2GB RAM + 16GB storage, 3GB RAM + 32GB storage and a 4GB + 64 GB storage variant. While the 16GB storage carried a price tag of Rs 9,999, the 32GB and 64GB variants were launched at Rs 10,999 and Rs 12,999 respectively. The 16GB variant was, however, discounted after the launch of the Redmi 4.

Last year, Xiaomi toppled Samsung to become the biggest smartphone brand in India, and the Redmi Note 4 played the biggest role. The Redmi Note 4 set new records and became the fastest selling smartphone in India having sold 1 million units in less than 45 days and 5 million units within a span of six months. Xiaomi reportedly sold 9.2 million units in Q3 of 2017 and most of them were Redmi Note 4 units. 

However, recent launches like the Honor 7X and more recently the Honor 9 Lite, are making the Redmi Note 4 look outdated with upgraded specs like dual camera setups, and 18:9 displays.

Moreover, Xiaomi is expected to launch the Redmi Note 5 (most likely the Redmi 5 Plus will be rebranded as the Redmi Note 5 and sold in India) with an updated design with a larger 6-inch 18:9 display in India as early as February.

But should you still consider the Redmi Note 4?

The Redmi Note 4 certainly isn't getting any younger, but having said that it is getting cheaper. It still packs decent specifications for a sub Rs 15,000 smartphone, but there are plenty of newer options out there, like the Honor 9 Lite, which comes at the same price of Rs 10,999 but offers a fresher design and the latest Android Oreo out-of-the-box. Then, there is the Redmi Note 5, which might be launched anytime soon. The phone looks modern with that 18:9 display, yet packs the same DNA (i.e. the Snapdragon 625 chipset).

However, it all boils down to a matter of personal choice - whether you want a seasoned, time-tested smartphone with slightly older hardware, or a fairly new smartphone that comes with better specs, or wait and hold that money for the Redmi Note 5. 

Here's a quick look at the specifications of the Redmi Note 4.

Display 5.5-inch Full HD (1080x1920) IPS LCD
Storage 64GB 
Rear camera 13 megapixel
Front camera 5 megapixel
Processor Qualcomm Snapdragon 625 octa-core @ 2.0GHz
Operating System/UI Upgradable to Android 7.0 Nougat with MIUI 9 
Battery 4100mAh Li-Ion, non-removable