Still on the fence about the OnePlus One? It's time to make up your mind. OnePlus has hiked the prices of the smartphone in the European Union and cites "the falling value of the Euro" as the reason for doing so. "We have not yet finalized our pricing policy for India but our Indian users can expect an announcement regarding our pricing strategy in the near future," says a press release from the company -- which pretty much means a price hike is round the corner. '
The 16 GB OnePlus One in the EU will now cost €299 (€269 earlier, approx Rs. 18,000), while the 64 GB model will cost €349 (€299 earlier, approx Rs. 20,000). The new prices will go into effect from March 25.
OnePlus phones are coveted, because they offer high-end hardware at mid-range prices. They also require buyers to have an invite to make the purchase, giving them an aura of exclusivity. The reason why OnePlus can keep prices down is simple: the firm has razor thin margins on products and almost zero marketing budgets, instead relying almost exclusively on word of mouth and social media buzz.
A blog post on the official OnePlus website says: "As you may know, the euro is quite unstable at the moment. Last year, many other companies insured themselves against this volatility by launching devices with higher prices in Europe than in other markets. 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. Unfortunately, as the value of the euro continued to drop, our razor-thin margins began to turn into 0 margins. Due to the current value of the euro, we are now selling devices at a loss in the EU. In light of these exchange rate shifts and trends, we will be making some changes to our pricing structure for the One in markets that use the euro as currency."