Withings plans to hike prices due to increased costs of raw materials
Withings has announced that it will be raising prices of some of its smartwatches, scales and blood pressure monitors soon due to increased costs of raw materials.
The company says that since the start of the Covid-19 pandemic, electronic components and other raw materials have become more expensive. What’s more transport costs have also risen quite a bit. And let’s not forget inflation. In many countries it is contributing to the overall cost of products.
These factors combined are making it more expensive to manufacture devices. Withings gives the following example: the microcontroller in Body Cardio has increased in price by 20% since the year 2000 while transport costs are up by a whopping 200%.
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The French outfit is known for the quality of its products. So rather than compromising this by opting for cheaper options, they’ve decided to increase prices of a select group of products. This includes the popular Body Cardio scale, Withings Sleep, BPM Connect and 38mm version of ScanWatch. All of these will increase in price by around 10% to 20% or by $20 to $30.
This is the banner that has appeared on the storefront of the Withings website.
The store front page cites for each product listed whether it will be affected from October 1st and by how much. So if you have been saving up for a smart scale, smartwatch or blood pressure monitor – the next few weeks might be the time to act. No doubt other retail platforms, such as Amazon, will follow suit.
Regions outside the US will also see similar increases. But this might fall even earlier for them. In some countries the price hike will begin on September 19th.
We have written a few times about the chip shortage in recent years – the demand for integrated circuits has been exceeding the supply. More chips are becoming available in the second half of 2022 and the shortage is nearing the end according to some analysts. Expectations are that this might taper off in 2023.
But coupled with increasing inflation and energy shortages in some countries, the situation for wearables manufacturers has not been ideal. We would not be surprised if other companies follow suit in the months ahead. In any case, the transparency of Withings should be appreciated. It will be interesting to see price adjustments back down once things return to normal.
This news follows the launch of the company’s latest product – the Withings Body Comp scale. Unveiled at IFA 2022, the device tracks Vascular Age and Nerve Health. Coupled with this was the unveiling of a service called Health+ to help people change behaviours to optimise health.
We are also expecting limited EU availability to start in November of the Body Scan scale. Announced at CES 2022, that device can assess nerve activity, detect Afib and monitor segmental body composition.
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