We really don’t like having to write this post but we do need to let you all know that we along with the rest of the electronics industry are facing significant component price rises and supply problems which are having a material impact on our costs.
Throughout 2021 we managed to absorb these increases, but the global supply chain issues are now really starting to affect us as much any other industry.
One voltage regulator chip has gone from £1.50 to £8.50 [we’re lucky that we’ve managed to secure supplies], the aluminium that we use for heatsinks has jumped by 50%, and our electricity costs have just doubled. Lead times for many components are now over 12 months and some are difficult to get hold of.
The good news is that we’re pretty sure of our supply chain for 2022, we’ve invested a lot in increased inventory of the key components, and have updated our planning tools. Our PCB company has been really helpful with scheduling call-off orders, and we’ve bought in bulk where possible to get better price breaks.
But the bottom line is that we will need to increase prices from 1st Feb 2022. We’ve worked hard to keep the increases as low as we can, and if our costs come down then we will reduce our prices to keep the same margin.