7/6/2016 11:12:51 AM
OnePlus hikes UK price, blames Brexit
OnePlus has become the first manufacturer to raise the price of its new handset due to the weak pound.
In a blog post on its website the brand explained the reason for a £20 price increase of its latest device: ‘the sharp drop witnessed in the currency markets following the Brexit decision has forced us to re-evaluate the OnePlus 3’s pricing in the UK at a time of significant demand.’
The business had warned UK customers in the immediate aftermath of Britain’s decision to leave the EU that it may have an impact on price. OnePlus said that as ‘margins have always been thin’ and because ‘expenses are mainly in USD… sudden drops such as the one that the pound has recently experienced could have a direct impact on prices.’
Brexit manufacturer pressure
Manufacturers look set to be some of the hardest hit by Britain’s decision to leave the EU. In light of the pound’s decreasing value against the dollar.
Many in the mobile industry were opposed to a UK exit, following Brexit dealers warned that investment and innovation in the UK would suffer. Whilst there has also been a suggestions that major European businesses such as Vodafone would chose to relocate its head offices to the continent.