OnePlus took to their forums today to offer some transparency on the results of the Brexit vote. With the UK voting to leave the European Union and all of the uncertainty that comes with it, OnePlus might be forced to increase its prices in the UK.
We’re not quite sure what OnePlus plans to do yet, as they’re talking about the OnePlus 3 getting a price hike specifically, though it wouldn’t be surprising to see all of their products in the UK get a similar price increase.
Here’s the full statement from OnePlus:
“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.”
It goes without saying, the transparency from OnePlus is appreciated by customers worldwide. At the moment, it’s important to keep in mind that a price hike is not happening immediately. With that in mind, if you’re and the UK and are thinking about buying a OnePlus product, now is the best time to purchase while the prices are low.
We’re not quite sure how much OnePlus plans to increase prices by, but we can’t imagine it being too unreasonable, as OnePlus has always sold with extremely thin profit margins.
OnePlus noted in its forum post that this price hike isn’t going to come from left field. The company plans to make an announcement several days before it happens, giving consumers plenty of time to purchase their OnePlus product before the hike gets put in place.
Keep in mind that this is really the first we’ve heard about technology price increases in the UK because of the Brexit results, and that’s largely due to the transparency of OnePlus; however, it’s likely that many other companies are going to follow suit, unfortunately.