Sonos has announced a 25% increase in UK prices, thanks to Brexit and a weakening pound.
Whilst the effects of the UK’s decision to leave the EU have largely yet to be felt, one major change has happened — the collapse in the value of the pound versus the dollar.
“We pay for everything we make in US dollars,” explained Sonos 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.”
Sonos’ most popular speaker products — including the Play:1, Play:3 and Play:5 — will increase by 15%, “from £169, £259 and £429 respectively to £199, £299 and £499.”
Whilst the company’s Connect Line (used to retrofit existing speaker systems) will increase by the full 25%, “from £279 for the Connect and £399 for the Connect: Amp to £349 and £499 respectively.”
Sonos is just the latest in a long line of companies that have been forced to increase their prices since the UK voted to leave the EU, Apple recently announced a 25% increase in app prices due to the weakening pound.