OnePlus‘s latest flagship the OnePlus 3 just launched two weeks ago. But, it appears that the price of the smartphone may already be in route for a price hike in the U.K. The hike in price can be blamed on those who voted for Brexit. Surprisingly most Brits favored the departure of their country from the European Union. The OnePlus 3 is currently priced at £309.
When the results of the balloting became known, the decision by Brits to departure from the EU led to a huge decrease in the value of the Pound. The value of British Pound dropped by more than 10% in mere hours. The problem is that OnePlus has kept its profit margins so thin that even a slight fluctuation in the currency can force the company to raise the prices. The company was forced to raise the price back in early 2015 when a sharp drop in the Euro resulted in the company taking a loss on every unit sold in Europe. The company posted in its forum that the members will be given a heads up a few days before the price of the device is raised.
The company also advised that if people are planning to buy the smartphone it will be best if they did it sooner so that they can avoid the hike n price if it occurs. The company also said that the decision to raise the price will not be taken lightly. OnePlus says that the price will be raised if it appears that the smartphone are being sold at a loss because if the company sells at a loss then it may not be able to survive in the future.
“We have 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.” -OnePlus