OnePlus 3 price increased due to Brexit pound slump

Smartphone manufacturer OnePlus has said that it is increasing the price of its upcoming OnePlus 3 as a result of the pound’s plummeting post-Brexit value.

The handset had been due to go on sale for 309, but will now retail for 329 upon its release on July 11th.

We’ve seen a downward trend for the pound against the dollar over the past two years. While we’ve held off action for as long as we can, the sharp drop witnessed in the currency markets following the Brexit decision has forced us to re-evaluate the OnePlus 3’s pricing in the UK at a time of significant demand,” the company said.

Given the effects of the unstable markets on our extremely thin margins, we’re reluctantly going to have make some small changes to our pricing structure for the device. There’s still time to pick up the device at the current price of 309. We said that we’d give you as much notice as possible, and we’re committed to taking the hit over the next few days and absorbing the resulting losses.”

The pound this morning fell to a 31-year low of under $1.31. Politicians, meanwhile, continue to fight their leadership contests without any clear indication of what the plan is or if we’ll even leave the EU at all.

With the launches of the Xbox One S and PS4 Neo rapidly approaching, the question now is whether Microsoft and Sony will be able to meet their previously stated UK RRPs.