The expensive pricing of the Mi smartphones is the right choice for Xiaomi and the only path to long-term success. In hindsight, the US sanctions against Huawei are an advantage for Xiaomi that should not be underestimated.
https://www.notebookcheck.net/Opinion-Xiaomi-s-high-prices-were-inevitable-and-Huawei-s-ban-is-a-blessing.462030.0.html