Xiaomi Headphones To Get Dearer As Minerals Price Rises

A unit of China's top lithium producer Ganfeng Lithium Co Ltd GNENF, raised prices for small batteries for Xiaomi Corp XIACY and Oppo's consumer electronics like headphones, Bloomberg reports.
Xinyu Ganfeng Electronics Co informed customers about evaluating new orders' prices amid a substantial power cell cost hike.
Xinyu, a manufacturer of small polymer lithium batteries for smart wearable products and Bluetooth headset batteries, cited a "huge increase" in the prices of minerals. Production and electricity curbs in Inner Mongolia affected node materials, the report added.
Demand for battery metals has boomed as their use expands from consumer electronics to electric vehicles. Meanwhile, supply struggled to catch up amid Covid-related logistical woes and a lack of investment.
Chinese battery maker CALB Co, competing with Contemporary Amperex Technology Co Ltd and Warren Buffett-backed BYD Co (OTC: BYDDF) BYDDY, gauged investor demand for its $2 billion Hong Kong initial public offering.
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