Sonos to raise prices by up to 25 percent over Brexit
If you live in the UK and have been mulling a Sonos purchase recently, take note: the company’s prices will soon be going up. Through an online support page, the company has confirmed that its premium speakers and soundbars will be rising by up to 25 percent on February 23rd. Some tweaks are marginal, such as a £30 rise for the £169 Play:1 (soon to be £199). Others are more significant, however. The larger Play:5, for instance, is rising £70 to £499, while the Playbar and Sub are climbing £100 to £699 each. The Connect:Amp, meanwhile, is going up £100 to £499.
The reason, unsurprisingly, is Brexit. “We pay for everything we make in US dollars,” the company said in a statement. “Over recent months, there has been a significant change on the US Dollar to GBP 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 GBP.” Some fans are calling the decision “outrageous,” “business suicide” and “frankly nuts” in the company’s online forums. “Really disappointed Sonos is jumping on the Brexit band wagon as an excuse to raise prices. Sonos will not be top of my list when it comes time to upgrade,” one user said.
Sonos isn’t the first to bump up its prices following the EU referendum vote. The OnePlus 3 got a minor price hike last July. HTC followed suit with a hefty increase for its Vive VR headset in August. Apple shifted some hardware prices in September, before Microsoft raised it cloud and business software rates in October. Tesla has since followed suit, upping the prices of its premium electric cars. Most recently, Apple has adjusted the price tiers for apps in the App Store. Sonos is merely the latest to compensate for the falling pound — it almost certainly won’t be the last.
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