Chinese company Xiaomi on Tuesday slashed the price of its Redmi Note Prime phablet in India by Rs 500. The Redmi Note Prime which was originally launched at a price of Rs 8,499 in December last year can now be purchased for Rs 7,999. The phone will be available for buy from Amazon.in and Mi.com/in.The Redmi Note Prime is notably Xiaomi’s second smartphone to be ‘Made In India’ and first went on sale in December 2015. It is essentially a slightly upgraded version of the company’s Redmi Note 4G offering 2GB of RAM, 16GB of internal storage (expandable by up to 32GB via microSD card), a Qualcomm Snapdragon 410 64-bit processor and is equipped with dualSIM 4G capabilities.”Since its launch, Redmi Note Prime has received a great response from Mi fans for its amazing camera, and responsive UI. Now, lower costs have enabled us to reduce the price of Redmi Note Prime, and this translates into savings that Mi fans can enjoy,” the company said in a statement.The Redmi Note Prime is a 5.5-inch phablet boasting of a 720p resolution. It sports a 13-megapixel camera on the rear and a 5-megapixel camera on the front. The device is backed by a 3,100mAh battery.Additionally, the company announced that its Mi4 and Mi 4i phones will be available at a price of Rs 12,999 and Rs 9,999 between February 16-19 as part of Mi Week on Amazon.in.