Amazon Prime Subscription Hike in UK and Europe- Company Blames Inflation

    Amazon.com Inc. said it’s increasing the cost of its Prime subscription in the UK, Germany, France, Spain and Italy as a result of inflation and associated operating costs.
    By: BLOOMBERG
    | Updated on: Jul 26 2022, 23:22 IST
    iPhone 12 price DROPS again! Check out this amazing deal on Amazon
    iPhone 12
    1/5 iPhone 12 was 2021’s best-selling smartphone and it is still a mighty powerful device. People who were looking to buy the iPhone 12 might be in luck because Amazon has announced a massive price drop on the device. (Apple)
    iPhone 12
    2/5 Originally priced at Rs. 69,900, Amazon has reduced the price of the iPhone 12 128GB to just Rs. 58,999, at a discount of Rs. 10,901. (Apple)
    iPhone 12
    3/5 Amazon is also offering an exchange bonus on the iPhone 12. You can get up to Rs. Rs. 8,950 off on the price on the iPhone 12. However, the exchange bonus depends on the model and condition of your old device. (Apple)
    image caption
    4/5 Additionally, you can avail another Rs. 1,000 off by using SBI credit card for payment to bring it down to Rs. 57,999. All these offers combined essentially bring down the price of the iPhone 12 to just Rs. 41,350. This is an amazing deal which is not to be missed! (HT Tech)
    image caption
    5/5 iPhone 12 Specifications- iPhone 12 has a 6.1-inches OLED Super Retina XDR display with 2532×1170-pixel resolution, 460ppi pixel density, and HRD support. The device is powered by an A14 Bionic chipset paired with a 2,815mAh battery that supports up to 20W fast charging. The iPhone 12 packs 4GB RAM and up to 256GB internal storage. (Robin Sinha/HT Tech)
    Amazon Prime
    View all Images
    Amazon.com Inc. said it’s increasing the cost of its Prime subscription in the UK, Germany, France, Spain and Italy. (Unsplash)

    Amazon.com Inc. said it's increasing the cost of its Prime subscription in the UK, Germany, France, Spain and Italy as a result of inflation and associated operating costs.

    The annual price of the free-shipping service will increase to £95 ($114.06) from £79 in the UK starting from Sept. 15, the company said in a statement on Tuesday. Prices will jump by 31% on average across the affected European countries and follows similar hikes in the US announced in February.

    “From what we have seen in the United States, there has been no opt-out phenomenon because more and more services are being provided via Prime and this service still allows consumers to make extremely significant savings,” an Amazon spokesperson said by phone.

    In April, Amazon told investors a pandemic-fueled hiring and warehouse-building binge was catching up to it as e-commerce sales growth inevitably slowed from the torrid pace of the coronavirus outbreak. Fuel and labor costs were already biting, and soaring inflation has only continued since.

    The company isn't alone in raising its prices, however. Companies including Netflix Inc. increased the cost of its packages this year, sandwich chain Pret A Manger hiked the cost of its subscription, and Britain's phone companies are rolling out their biggest price increases in years.

    Amazon's annual Prime subscriptions will jump from 69 euros ($70.121) to 89.90 euros in Germany, from 49 euros to 69.90 euros in France, and from 36 euros to 49.90 euros in Spain and Italy, the company said.

    Follow HT Tech for the latest tech news and reviews , also keep up with us on Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

    First Published Date: 26 Jul, 23:22 IST
    Tags:
    NEXT ARTICLE BEGINS
    keep up with tech