Leading Gaming Manufacturer Outlines Plans for Price Increases
Nyko Technologies today announced price increases for most of its products as a result of the changing global economy.
New Chinese labor laws have resulted in a significant increase in production costs of almost 40%. In addition, the price of oil continues to break record highs, contributing to higher shipping rates and the rising cost of plastic materials. Those factors, combined with a 10-20% increase in the cost of raw materials commonly found in electronics including gold, silver, and copper, have companies worldwide re-evaluating their business models. In response, Nyko has chosen to focus on delivering high quality products rather than lowering its production standards in order to maintain current price points.
“The cost of manufacturing continues to rise while the value of the U.S. dollar grows weaker, forcing us to adapt,” said Herschel Naghi, CEO of NYKO Technologies. “Experience has shown that maintaining quality at a higher price, instead of degrading our product in order to keep costs low, is a strategy that will prevail in the long run.”