Nyko today said that the U.S. economy is hurting the company and will result in higher prices. The price increase “for most of its products” are a “result of the changing global economy.” According to them, new Chinese labor laws is raising the cost of production significantly, while the price of oil continues to break records on the market, hitting as high as $130 a barrel recently.
“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.”
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