It has been announced by leading Japanese companies yesterday that due to the weakening of the Pound that many imported high tech products will now face a "price increase" of up to 20%.Could the government have known in advance when reducing the VAT rate to 15%!
Announced in BJP 5/1/09 latest news section quote:
"Nikon, Canon, Sony and Leica are all expected to raise their prices in January as the pound continues to fall in value. Nikon has confirmed to BJP that it is to implement a price increase across its range of imaging and optics products, effective on 12 January. 'The price increase is the result of volatile exchange rate conditions and will continue to be reviewed on a regular basis,' a spokeswoman says. 'All product groups will be affected by the price increase to some degree. A recommended retail price list will be available to view from 12 January online.'
Leica has also told BJP that, as of 01 January 2009, its prices would increase across the board.
Canon and Sony are also said to be looking to raise their prices in the UK and continental Europe as both the Euro and the pound have seen their values decline against the Yen. Canon is expected to increase its prices in its consumer division, which sells digital cameras and printers.
The increases could reach up to 20% for all companies, BJP understands."
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