If you’re in the UK and looking to buy a Sonos speaker, you better get your order in before February 23rd. After then, prices will be rising by up to 25 percent across the company’s various product ranges, thanks to Brexit.
Sonos’ most affordable speaker, the Play:1, is increasing in price from £169 to £199; the midrange Play:3 is going up from £259 to £299; while the top-of-the-line Play:5 used to cost £429 and will now set you back £499. The biggest increases, though, are hitting the Connect line, which allows users to hook up their existing speakers to streaming music sources, and are getting a 25 percent price bump. You can check out the full list of changes here.
The company’s explanation is a familiar one: it sets its prices by region, but pays for everything it makes in US dollars, meaning prices are now more expensive. “Over recent months, there has been a significant change on the US Dollar to GBP exchange rate,” said the company in a blog post. “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.”
This “significant change” was of course triggered by Brexit, a decision which sent the value of the pound plummeting against the dollar. Sonos is only the latest company to raise prices in the UK in response to this, with other tech firms including Apple, Microsoft, and Tesla doing the same.