Filling Your Home With the Sound of Sonos Just Got More Expensive
Wireless-speaker maker Sonos will raise prices in the U.K. across its range of home-audio systems, meaning the sound of Brexit-driven price increases will now be heard clearly, in sync, in every room.
The company on Monday said it would raise prices on Feb. 23, increasing the cost of its music speakers, wireless receivers and home-theater accessories by as much as 25%.
The price of a mid-range PLAY:3 speaker will rise 15% to £299, while the cost of an amplifier will go up 25% to £499.
“These increases aren’t something we take lightly,” the company wrote in an email to customers. “But there are times when changing circumstances make them necessary.”
It blamed the increase on the weakest pound in three decades, which has made imports more expensive. “Our prices are defined regionally,” Sonos said on its website. “In the U.K., this includes local taxation and import duties, but we pay for everything we make in U.S. dollars.”
Some Sonos customers (or potential customers) complained.
Others were more sympathetic.
The Sonos price hike follows “Marmitegate,” in which beloved British breakfast spread Marmite and other goods were briefly pulled from the online shelves of supermarket Tesco as it battled with supplier Unilever over costs. Microsoft and Apple also began charging Britons more for some of their software and hardware, and Tesla also blamed Brexit for price increases.
The pound has dropped about 17% against the dollar since U.K. voters chose in June to leave the European Union.
That slump is starting to feed through via import prices, with some economists forecasting consumer price inflation could reach 3% this year, a level not seen in the U.K. since 2012. Economists surveyed by Bloomberg expect data released Tuesday to show inflation hitting 1.9%, close to the Bank of England’s 2% target.