Microsoft to increase UK prices of enterprise products, citing falling pound
- Farm distress is now haunting us: NITI Aayog’s Rajiv Kumar
- Uttam Galva gets nod for change in ArcelorMittal Netherlands’s profile
- Ujjawala scheme: Indian Oil, others defer loan recovery up to 6 refills
- Lingayats and Veershaiva one and the same, says All India Veershaiva Mahasabha
- Raghuram Rajan, corporate leaders to set up Rs750 crore university
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