Currency markets have taken their hardest gyrations in a long time thanks to the United Kingdom’s voting public expressing their desire to leave the European Union. The Pound Sterling has taken an 8 percent fall against the Dollar in the past few days, leading it to lows we haven’t seen since the mid-1980’s. The so-called Brexit vote has smartphone manufacturers worried, especially those with headquarters from London to Manchester. Maybe a move to Belfast, Glasgow or Ireland may be in order.
But the buying Briton will be the most impacted for the time being and OnePlus is calling in to make that point.
In a forum post, the company is advising UK-based customers to buy the OnePlus 3 “sooner rather than later”. It’s not to say a price increase is definite, but given that the company has repeatedly said it keeps margins thin, the possibility isn’t out of mind. Based on pure conversion (not counting bank and accounting fees), OnePlus would be losing money on its new device (at £309) if the Pound dropped to $1.30. It’s currently around $1.344.
“We’re telling you this now because we don’t want you to be blindsided,” OnePlus stated. “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.”
OnePlus affirmed that it will give several days of notice if a hike is scheduled. It also made sure to let customers know that it will continue its business in the UK.