The Watch S5 41 mm starts at THB 6,299 (~$185) in Thailand with Black and Light Blue finishes to choose from. Alternatively, Xiaomi is selling a Ceramic White variant with a ceramic watch case for THB 6,999 (~$205). The company adds that it has discounted these prices from THB 10,990 (~$325) and THB 11,990 (~$355) too, albeit without elaborating further.
Incidentally, these prices currently make the Watch S5 41 mm more expensive than its 46 mm sibling (curr. $214.99 on Amazon), which now starts at THB 5,899 (~$175) in Thailand. Moreover, the Watch S5 41 mm is around 15% more expensive than its predecessor in Thailand.
Hence, we would not be surprised if Xiaomi released the Watch S5 41 mm in other markets for a similar mark-up. For reference, a 15% uplift would correlate with £155 and €195 starting prices in the UK and the Eurozone. Please see our recent Watch S5 41 mm launch article for more details about Xiaomi’s new smartwatch.