OnePlus has confirmed that it is being forced to increase prices of the One in Europe later this month due to the decreasing value of the euro. The move means an entry-level 16GB One handset will soon cost €299 — the current price of a 64GB model.
“Last year, many other companies insured themselves against this volatility by launching devices with higher prices in Europe than in other markets,” OnePlus explained on its blog. “This is something that we opted not to do, as we are committed to maintaining razor-thin margins in order to give the most value back to our fans.”
With the value of the euro continuing to drop, however, those “razor-thin” profit margins are now non-existent profit margins, and the One is actually being sold at a loss in the EU.
While price increases are never good news for consumers, then, it’s a move OnePlus has had to make. And of course, even at €299, the One is still a terrific smartphone.
“We sincerely wish that we had an alternative option here,” the company added. “We explored all possible avenues in an attempt to avoid any changes, but as a startup with exceedingly-slim margins, our current euro prices simply aren’t sustainable.”
So, as of Saturday, March 25, a 16GB Silk White One will cost €299 (approx. $320) — up from €269 (approx. $288), and a 64GB Sandstone Black model will cost €349 (approx. $373) — up from €299.
OnePlus has decided to give customers 7 days’ notice to be “fair,” and until then, the company will simply absorb the cost of selling the devices at a loss. For now, at least, the prices of its accessories will not be affected, and will remain the same.