Manu Kumar Jain, the head of Xiaomi's Indian division, announced the #Mi4PriceDrop on Twitter today. Kumar said that the price drop is permanent. The 16GB Xiaomi Mi 4 now costs Rs. 17,999 only, which is slightly lesser than the 16GB OnePlus One which costs Rs. 18,999.

Meanwhile, the 64GB Xiaomi Mi 4 price is now Rs. 21,999. At that price, it clashes head-on with the 64GB OnePlus One, which also costs Rs. 21,999.

Xiaomi is set to announce a new global Mi phone in India on April 23rd. Nothing of use is known about the upcoming phone as of yet.