In just five years, Xiaomi has worked its way up to find a spot among the tentpole smartphone manufacturers. The Chinese technology conglomerate has managed to pull it off by strictly sticking to two strategies. First up, sell good, durable product with best-in-line specs possible at a ridiculously cheap price point. Second, slash their price even further after a few months.

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This is the season when Xiaomi’s latter strategy is in its full swing. The company which recently slashed the retail price of its flagship Xiaomi Mi 4 smartphone, is all set to slash the price of its mid-range sleeper hit Redmi 2.

In a tweet, the company teases its plan to reduce the price of the Redmi 2 by Rs 1,000. The price cut will adjust the retail price of the phone to Rs 5,999, which makes the dirt-cheap rocker even more enticing.

For a refresh, the Redmi 2 sports a 4.7-inch HD (1,280 x 720 pixels) IPS display with AGC Dragontrail Glass protection. It is powered by a 64-bit capable Qualcomm’s Snapdragon 410 quad-core chipset clocked at 1.2 GHz. It comes coupled with 1GB RAM and 8GB internal storage, which can be further expanded up to 32GB using a microSD card should you need more storage.

Other features of the dual-SIM capable smartphone which supports 4G LTE include an 8-megapixel snapper with LED flash at the back and a 2-megapixel snapper placed upfront. The phone runs Android 4.4-based MIUI 6 ROM. It comes with a 2,200-mah battery.

While the company hasn’t mentioned any such thing, it seems logical that it may have plans to bring the Redmi 2 smartphone with 2GB RAM in India and sell it for Rs 6,999. We will know more on July 7th when the company will make things official.

Update: Xiaomi confirms the price drop, but no mention of the Upgraded Version

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