Brexit blamed by tech companies as the reason for price hikes

The price of Dell and OnePlus products in the UK is rising, with the American computer maker and Chinese smartphone firm claiming it is because of the decision to leave the EU.

The substantial fall in the value of the pound against the dollar, which occurred after the result of the EU referendum and has now hit a 31-year low (and is 12.4 per cent lower than it was before the vote), has resulted in tech companies increasing their prices.

While Dell has not revealed precisely which products will experience changes in price, it has been reported by the Register that there will be a 10 per cent increase in costs for UK retailers.

A Dell spokesperson said: “In line with the rest of the industry, our component costs are priced in US dollars, and unfortunately, the recent strengthening of the US dollar versus sterling and other currencies in the EMEA (Europe, Middle East and Africa) region, following the UK’s decision to leave the European Union, will have a direct impact on the price we sell to our UK customers and partners.

“We understand that this is an uncertain time for many British businesses, and we will continue to work closely with our customers and partners to provide great value products and services.”

Sterling has fallen even more against some Asian currencies, and the Chinese company OnePlus has announced that the price of the OnePlus 3 smartphone will rise to £329, up from its launch price of £309. It is therefore strongly suggested to purchase this phone before Monday, if you have had your eye on it, or face forking out an extra £20.

Other technology companies have indicated they may also be increasing their prices in the near future, but on the whole the majority of firms have not yet made any official announcements over their plans, following the controversial EU vote.