Brexit fallout leads to OnePlus price hike
Updated : 11:58
Brexit fallout has hit one of the most anticipated technology releases of 2016, with OnePlus confirming it will raise the price of its flagship OnePlus 3 smartphone on 11 July.
The privately-held Chinese technology firm said the rise was a result of sterling’s recent plummet against most overseas currencies.
A OnePlus 3 will cost £329 next week, compared to £309 today.
“Given the effects of the unstable markets on our extremely thin margins, we're reluctantly going to have make some small changes to our pricing structure for the device,” a company spokesperson said on the OnePlus forum.
“While we’ve held off action for as long as we can, 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.
“In practical terms for our customers, this means that from July 11 the OnePlus 3 will be £329 in the UK,” the spokesperson explained.
The company had signalled the decision several days ago, saying last Thursday that “hard choices need to be made” in the wake of the Brexit vote.
OnePlus said the price of its accessories will remain the same, and the UK price rise won’t affect customers in other countries, where currencies have remained relatively stable.