Xiaomi was recently in the news for hiking prices of some of its phones following rupee depreciation and it is once again dominating the headlines with a price cut on its best-selling models. Celebrating its success in India, the Chinese smartphone maker announced Rs 1,000 flat discount on three of its best-sellers, giving consumers a great opportunity to shop this festive season.

Xiaomi Redmi Note 5 Pro, Mi A2 and Redmi Y2 prices have been dropped in India by Rs 1,000 effective immediately. The discounted price on these phones can be seen across all official stores in India and there's no need to rush as the price cuts are permanent.

"We are delighted to share that we have seen a reduction in component costs of some of our best-selling phones. We were announced as the number one smartphone vendor in India for the fifth consecutive quarter, as per IDC Quarterly Mobile Phone Tracker. As a celebration of that, Xiaomi is announcing price cut for five smartphones," the company said in a statement.

Xiaomi phones prices dropped in India
Xiaomi phones prices dropped in IndiaTwitter screenshot

Following the price cuts, Xiaomi Redmi Note 5 Pro, which comes in 4GB+64GB and 6GB+64GB configuration, can be picked up for Rs 13,999 and Rs 15,999, respectively. Similarly, the Redmi Y2 is now available for Rs 11,999. Finally, the critically-acclaimed Android One-powered Mi A2 can be bought for Rs 15,999 for the 4GB+64GB variant and Rs 18,999 for the high-end 6GB+128GB model.

To recall, Xiaomi's Redmi Note 5 Pro has been available at lower costs, but that's during Flipkart's seasonal sale. For instance, the Redmi Note 5 Pro was available for as low as Rs 749 and Rs 1,299 recently, but both discounts were subjected to trade-in of older phones, which we found a major deal breaker. The good thing with the latest price cuts is that there are no strings attached.

Since the price cuts are a celebration of Xiaomi's number one position in the Indian market, it's worth noting that the company acquired 27.3 percent market share in the third quarter this year. This marks the fifth consecutive quarter where Xiaomi has been ranked number one.