Amazon Slashes Prices on Echo, Fire TV, and Kindle Products Amid Rising Costs

Amazon has increased prices on its popular Echo smart speakers, Fire TV streaming devices, and Kindle e-readers by up to 60% due to 'significant increases in memory and storage component costs,' according to a statement given to Fortune.

The price hikes affect various models of the Echo Dot, Echo Spot, Echo Show, and other products, with some increases as high as 60%. The cheapest products in Amazon's lineup were hit hardest, such as the Echo Dot smart speaker, which jumped from $49.99 to $79.99.

The Fire TV Stick 4K Max also rose by over 40% to $84.99, and the base level Kindle now costs $149.99, a nearly 37% increase. Apple increased the price of its comparable HomePod Mini this summer to $129 from $99.99 in response to rising costs.

Amazon's flagship Echo Dot Max smart speaker, which launched last year, now costs $119.99, up from $99.99. The Google Home Speaker remains at $99.99 for now.