Don’t get hit by the falling pound!

price increase

You may have noticed that the result of the EU referendum was to leave the EU, which caused the pound to drop significantly.  We are beginning to get price increases from our suppliers, the key one being Sony who recently sent us this:

“2016 has been a challenging year so far. After an extremely encouraging start, the earthquakes in the Kumamoto region of Japan and the damage they caused to the Sony Kumamoto Technology Centre put significant pressure on our digital imaging business. We have been working around the clock to restore production capacity and fulfil the orders that we have committed to deliver and are very happy that wafer processor operations, testing and assembly have been increasing steadily since May. Throughout this process, we have minimised the financial impact of this incident to our customers.

However, with the recent economic turbulence and extreme fluctuations in currency exchange rates between Japanese yen and European currencies, particularly the pound, we have had to revisit our pricing structure as of the 1st August 2016 we will be adjusting the list prices of our digital imaging products.

We do not do this lightly and have carefully considered the implications for all parties.”

Increases on key Sony lines are in the order of 20%.  We are also seeing increases from Canon, Nikon, Sigma and Tamron.

We will continue to monitor our costs and selling prices on a daily basis to ensure we offer you the best possible value.

The team at Castle Cameras

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