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Friday, July 15, 2016

Post Brexit : HP Increase Pricing In UK By 10% ; Dell And OnePlus Also Announces Increased Prices

It is worldwide knowledge that the United Kingdom has last month voted to exit the EU (European Union) through a referendum.
The exit in actuality would take about a couple of years before it is a slam dunk.
However, worldwide markets has already started fluctuating due to the purported exit.
This is happening essentially because the UK's referendum has resulted
in the pound sterling dropping to its lowest point against the US dollar in 31 years 😢.
The resulting economic incertitude is beginning to affect the tech industry.
Tech giants, HP emailed partners, informing them of a rise in prices of in United Kingdom by 10% - starting August 1st,2016.



Currency exchange 💱 rates has for long been a tricky problem for tech brands but the Brexit referendum has made the situation worse.

Quoting HP's official statement on the issue :

“As you will be aware, we have seen an unprecedented weakening of the pound to US dollar exchange rate over the past few weeks. In order to maintain a sustainable and consistent approach to our operation in the UK and Ireland, we have taken the decision to make some adjustments to our channel-supported and directly-contracted end-user pricing strategy.
Effective from 1 August, we will be implementing an adjustment of circa 10% across HP’s Personal Systems portfolio. This applies to all HP commercial/business products in the HP Personal Systems category (core PC/laptop, value technology and mobility solutions).
As always, you may freely determine your resale price to your customers.”

This is coming after OEM OnePlus also increased their flagship device OnePlus 3's cost price, adding £20 to the original cost price of £309.
HP is not the only tech company putting an increase in prices to their UK retail partners, as they also have increased price in the United Kingdom by 10% similar to HP.
The effect of Brexit on the United Kingdom's economy is definitely not a good development for tech retailers as well as consumers at the moment.
Fingers crossed on how things would further unfold.


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