Electronics company Sonos has announced that as of February 23 prices of products such as soundbars and speakers will be raised by up to 25%.
"Our prices are defined regionally," Sonos said. "In the UK, this includes local taxation and import duties, but we pay for everything we make in US dollars. Over recent months, there has been a significant change on the US Dollar to GBP exchange rate. As a result, our existing pricing has become unsustainable and, like many other companies, we have to increase prices for all products priced in GBP."
Some have been critical of the decision, however, calling it merely an excuse to raise prices. As a result of the decision, for example, a PLAY:1 will cost £199 as opposed to £169.
Will we see more companies announcing similar price rises?