Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Industry / Infotech/  Microsoft to increase UK prices of enterprise products, citing falling pound
BackBack

Microsoft to increase UK prices of enterprise products, citing falling pound

The price increase, from 1 January 2017, will be 13% for Microsoft's enterprise software and 22% for its enterprise cloud services

Photo: ReutersPremium
Photo: Reuters

Bengaluru: Microsoft Corp. said it will be increasing pricing for its enterprise software and cloud services in the UK in the wake of the sterling’s plunge since Britons voted to leave the EU.

The price increase, from 1 January 2017, will be 13% for its enterprise software and 22% for its enterprise cloud services, it said.

Pricing changes will not apply to consumer software or consumer cloud services, the company said in a blog post.

The vote to leave the EU took many investors and company executives by surprise, triggering the biggest one-day fall in sterling against the dollar.

The pound’s fall has affected profitability for many companies, as imported goods have become even more expensive.

Recently, Britain’s biggest grocery chain, Tesco, pulled dozens of Unilever brand products from its website after a disagreement over prices, in the wake of a the slump in the British currency.

Unilever had been trying to raise the prices it charges Britain’s big four supermarkets—Tesco, Sainsbury’s, Asda and Morrisons—across a wide range of goods by about 10%, saying it needs to offset the higher cost of imported commodities. Reuters

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 24 Oct 2016, 10:13 AM IST
Next Story footLogo
Recommended For You
Infotech Stocks
₹1,547.25-0.26%
₹1,484.10.99%
₹4,928.750.15%
₹3,837.51.2%
₹472.21.66%
Switch to the Mint app for fast and personalized news - Get App