This is a turbulent time for the IoT industry. Due to world events, we are seeing huge cost increases on almost every material used to make smart products. The cost increases are mainly driven by silicon chips, but also include memory, plastics, metals, packaging, and more. We expect the cost of these key components to continue to rise over the next year.
We are not the only company facing this challenge, but we pride ourselves on setting radically low margins, so it has been especially hard on us.
As a result, prices on some Wyze products, including Wyze Cam v3, will increase starting on May 18th. We expect our prices to be volatile for the foreseeable future as we try to keep up with fluctuating costs in the post-pandemic world.
While we are making adjustments to price, we also wanted to include a positive change heavily requested from our communities. Going forward, shipping charges will be included with product prices on wyze.com and we will offer “free shipping.” This will make our prices easier to compare to our retail partners. It will also eliminate the situation where users feel surprised by shipping charges in checkout, which goes against our company values of transparency and treating our customers like friends.
Speaking of our company values, we have built this company on being friends with users and delivering too good to be true value with every purchase. Those things will NEVER change. We as a company have not been perfect, but we are confident that we have always honored our promise to deliver great products at the lowest possible price. That is who we are and who we will always be.
Thank you for your loyalty to Wyze and for helping us get through a tough stretch in history.
– Wyze Cofounders
Which products are increasing in price?
For sure Wyze Cam v3 and Wyze Video Doorbell though it’s likely other products will follow later on.
What are the new prices starting May 18?
Right now, Wyze Cam v3 + shipping is $29.99. The new price including shipping will be $32.99.
Wyze Video Doorbell + shipping is $44.98. The new price including shipping will be $54.98.
Will Special Cam Plus product pricing increase as well?
The Cam Plus subscription price is staying the same. However, the price of products purchased using the Cam Plus discount is increasing as well.
Will Wyze continue to offer shipping discounts for orders with items that can ship together?
We are currently working on a new model that will allow us to give a discount for purchases with multiple items but we aren’t quite ready to give details yet. Stay tuned!