Right after the UK voted to leave the European Union, #OnePlus posted a warning of sorts to its fans that the #OnePlus3 might soon be expensive given the fluctuation in the British Pound (GBP) compared to the U.S. Dollar (USD). Well, it hasn’t taken long for that day to finally arrive as OnePlus has now announced that the handset will be expensive by £20 to cost £329 ($425). This isn’t a major increase, but the handset is more expensive now anyway.
The changes will come into effect starting July 11, so there’s still some time till OnePlus forces the price increase. So if you were planning to get the handset, make sure you do so before Monday.
We completely understand OnePlus’ reasoning behind doing this as they are in a business where making profits or at least breaking even is necessary for the survival of a company. Given that OnePlus is already offering a pretty decent set of hardware for a fraction of the price, we’re sure the customers won’t have a problem with the price increase, especially since it’s not OnePlus’ fault.
Source: OnePlus Forums
Brexit has really hit the companies hard. We recently heard about companies like Samsung, LG and Acer expressing concern about the results of the Brexit vote. We’re now seeing OnePlus offering a word of caution for its fans following the drop in value of the British Pound (GBP) against the Dollar (USD). The company maintains that there are no immediate plans for a price increase, but at the same time, it doesn’t want the customers to feel “blindsided” should that day come.
Frankly, this is far from surprising given the recent turn of events. Stock markets have responded negatively to UK’s exit from the European Union and things might take a while to stabilize. There are still about two years for the UK to put things in place though, so the changes might not be immediate.
Here’s what OnePlus had to say in its statement:
“We’ve always strived to create the best product and deliver them to customers at a reasonable price. However, the worrying downward trend of the GBP may make it difficult to maintain our current pricing structure in the UK. Our margins have always been thin, and our expenses are mainly in USD. This being the case, sudden drops such as the one that the Pound has recently experienced could have a direct impact on our prices.”
“We’re telling you this now because we don’t want you to be blindsided. If you’re thinking of buying, we recommend doing so sooner rather than later. However, if a price change comes to pass, it will not be a decision that we take lightly. We have only had to increase prices once before, when the Euro hit a nine-year low against the dollar at the beginning of 2015, and we did so reluctantly. Currency fluctuations are not your fault, nor our fault; but if we sell at a loss, the simple fact is that there won’t be a OnePlus in the future.”
Source: OnePlus Forums
While the UK might be equally divided on breaking apart from the European Union (Brexit), the repercussions in the tech sphere are already starting to show. According to multiple revelations, Samsung, LG, and Acer are not exactly pleased with this news. A Korean report goes on to say that Samsung might even consider shifting its headquarters out of London.
We are not aware where Samsung would be moving, but this doesn’t bode well for UK fans of the company. The region hasn’t traditionally been a stronghold for these manufacturers and with the Brexit news coming out, imported goods such as smartphones and other peripherals are expected to be more expensive. The fact that the GBP (British Pound) has dropped in value won’t help either.
The Brexit vote saw 51.9% of the UK’s population voting in favor, thus sliding past by a very narrow margin. Thanks to Brexit and the ongoing sales decline from the past few years, we wouldn’t be surprised if the companies slowly phase out their business in the region.
Source: The Korea Herald, Digitimes