Now Sonos is hiking prices because of the weaker pound
Trendy speaker maker Sonos has become the latest cult tech giant to announce it is increasing prices on its UK catalogue thanks to the weaker pound
“Our prices are defined regionally,” the company said in an email to its customers.
“In the UK, this includes local taxation and import duties, but we pay for everything we make in US dollars.”
“Over recent months, there has been a significant change on the US Dollar to [sterling] exchange rate. As a result, our existing pricing has become unsustainable and, like many other companies, we have to increase prices for all products priced in pounds.”
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From 23 February, prices in the Sonos range will be go up as much as 25 per cent for each unit in the catalogue.
The price tag for the company’s Sub and Playbar units will be going up from £599 to £699. Their Play:1 will sell for £199, up from £169, and the Sonos Play:3 will be £40 more expensive, at £299.
Sonos joins a growling list of US technology firms increasing prices due to the weaker pound. Apple has already upped the prices on the Macbooks, while Amazon Web Services and Microsoft warned they will add to the costs of their products this year.
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In January, California-based Tesla Motors blamed “currency fluctuations” for a five per cent increase in the price of its cars.
The value of the pound has fallen 17 per cent against the dollar since the vote on the UK’s membership of the EU took place in June last year.
With inflation likely to continue rising this year, economists are expecting other dollar-denominated multinationals to continue the trend in 2017.