The HTC Vive virtual reality headset is the latest tech product to get a bumper price rise after the United Kingdom voted to leave the European Union. The future withdrawal of the UK from the EU, a process which has been termed Brexit, has lead to a sharp drop in the value of the pound against the world’s major currencies.
From 1 August, the HTC Vive will cost £759 – an increase of £70 from the headset’s current selling price of £689.
In an announcement detailing the price rise, HTC said the decision had been made due to the drop in value of the pound.
“HTC continuously monitors and adjusts pricing to ensure we are providing our customers with the best value possible,” a statement from HTC read. “Due to recent currency valuation changes and the current value of the GBP we are adjusting the price of the HTC Vive in the UK to £759 + P&P.”
The pound is currently priced at 1.18 against the Euro, which is 9.92 percent down against the pre-referendum rate.
Against the US dollar, the pound has dropped even further. It is currently priced at 1.32, which is 11.41% down on its position prior to the vote.
HTC is not the only tech company to have increased its prices since the Brexit vote. Earlier this month, OnePlus announced that it was raising the price of the OnePlus 3 Android smartphone from £309 to £329.
Like HTC, OnePlus said that its decision was driven by a weak pound.
“The worrying downward trend of the GBP may make it difficult to maintain our current pricing structure in the UK,” a OnePlus spokesperson stated.
Both Dell and HP have also applied blanket price increases of 10% to their products. It is widely expected within the industry that other tech companies will follow suit, with Cisco reportedly considering price rises of 14%.