Chinese mobile company Xiaomi has announced a price decrease for its Redmi Note 4G model in New Delhi, India. The announcement was made by the popular tech brand yesterday.

The mobile device, launched November last year, was priced at Rs 9, 999. The model can now be availed at the cost of Rs 7, 999. The mark down applies for smartphones of the model sold in the official Xiaomi website, and Flipkart, Snapdeal, and Amazon, website Timesofindia said. The phones can also be bought at the same price in The Mobile Stores and Airtel Stores.

The Redmi Note 4G is the mobile company's first 4G device to be introduced in India. First sold in the country on December 2014, it has support for both 4G bands. The 5.5-inch device is powered by 1.6GHz Qualcomm Snapdragon 400 MSM8928 processor.

An 8GB on board storage is included in the Redmi Note 4G. The storage can expand up to four times with the use of a micro SD card. It has a back camera and a front camera that are both perfect for selfies.

Xiaomi merely hinted some big announcements over the last few days. Followers anticipated a new model release. It turned out to be the big price discount. The company has done a similar price cut for an earlier model last year.

Xiaomi has become one of the leading mobile brands just five years after its 2010 launch. Overtaking Samsung in mobile sales in China and Taiwan, the company reportedly sold 10,000 units in one second.

The widely-popular Chinese mobile brand utilizes direct-selling from its official website, and is known to cost 30 to 50 % less than other leading smartphone names. It is noted that India has become a large source of revenues for the brand.

In fact, sales of Mi phones in India grew so fast as it prompted the company to launch Mi 4i, a product especially made for the Indian demographic. India's Ratan Tata of Tata Group is an investor in the said company.

Xiaomi is reportedly anticipated to grow its market faster in India than its native China, Venture Capitalists wrote in a blog.