Amazon Overnight Price Hikes Hit Devices Up to 60%

Amazon raised prices on its own devices by up to 60% in an overnight change on August 21. The increases affect Echo smart speakers, e-readers, and Fire TV streaming sticks.

The cheapest product in Amazon's line, the Echo Dot, went from $49.99 to $79.99, a 60% rise. Other products saw price hikes between 11% and 25%, according to The Verge's figures.

Amazon cited 'significant increases in memory and storage component costs' as the reason for the price rises. The company will run promotions across its lineup this year to try and offset the increased costs.