HOT ON THE heels of Dell's decision to hike prices following the drop in the value of sterling caused by the UK vote to leave the European Union, HP has joined the party, confirming price rises on its products effective from 1 August.
HP Inc said in an email sent to partners and leaked to our sister site CRN that the 10 per cent increase follows "unprecedented" currency fluctuations.
The statement reads: "As you will be aware, we have seen an unprecedented weakening of the pound to US dollar exchange rate over the past few weeks.
"In order to maintain a sustainable and consistent approach to our operation in the UK and Ireland, we have taken the decision to make some adjustments to our channel-supported and directly-contracted end-user pricing strategy.
"Effective from 1 August, we will be implementing an adjustment of circa 10 per cent across HP's Personal Systems portfolio.
"This applies to all HP commercial/business products in the HP Personal Systems category (core PC/laptop, value technology and mobility solutions). As always, you may freely determine your resale price to your customers."
INQ sources suggest that it won't be long before another big player, in this case Cisco, joins the club, with rumours of a 14 per cent hike of its own products. We've asked Cisco to comment on the speculation and are awaiting a reply.
The Guardian reports that Lenovo is also considering hiking its prices, but there's no official word from the firm on this yet.
The vast majority of the tech sector works in US dollars, so it's likely that we'll see an avalanche of tech assets rising in price over the coming weeks.
European phone company OnePlus was the first to announce price rises post-Brexit, blaming its thin profit margins on the decision to add £20 to the cost of its flagship model.
Several companies in recent weeks have declined to give us sterling prices for new products as they are announced in case the currency falls even further. µ
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