Carl Pei, the founder of Nothing, announced on Tuesday via a tweet that the company will increase the price of its first product, ear (1) to $149 from $99 “due to an increase in costs” from October 26.
“Ear (1) was our inaugural product that will always have a special place in my heart. With almost 600k units sold, this product proved our team's capability to the world and enabled us to leap forward with Phone (1),” Pei added.
The ear (1) was launched in India for Rs 5,999 in July 2021 and is now retailing on Flipkart for as low as Rs 7,299 (in white). Consumers are already disappointed by the announcement.
Some are even hinting that this could be because the ear (stick) — which comes out on the same day — was priced similarly.
Others suggest that this could be a stock-clearing strategy.
In an attempt to justify the move, Pei said that the ear (1) is now a completely different product from when it launched, given the multiple updates that it has received over time.
What the exact selling price will be in India is still unclear.
This is not the first time the company is hiking the price of its products. In August, the company also
raised the price of its phone (1), owing to economic factors such as "fluctuating currency exchange rates and rising component costs".
For a company like Nothing, it made sense at the time to launch innovative and “fun” products at a base price to provide quality to consumers and make a place for themselves in the market. Now, that the company is starting to establish itself and the team is growing, so will the margin on products (because how else do you make profits) and ultimately the selling cost.
The world has tasted Nothing and from what it seems, it clearly wants more of it. Even after all the price hikes and unkept promises, we are still here and still excited for the ear (stick) reveal next week, and that, I think, speaks for itself.
