SpaceX is blaming inflation for the recent price hikes in the Starlink satellite internet service. Tesla just raised the price of all of its electric cars for the second time in less than a month, with some models costing up to $10,000 more. The price increase was attributed to the Russia-Ukraine conflict, according to the firm.
Uber, Lyft, and other mobility and transportation businesses have all hiked their prices. They are immediately harmed by historically high gas costs, but average households are also affected by inflation. Rent, food, energy, and gas prices are all at all-time highs. Technology companies are harmed as the cost of living and raw materials utilised in supply networks rise.
On its website, Starlink has hiked its prices. While the rise was due to inflation, Starlink has higher operational costs than other internet service providers because it employs satellites to deliver broadband from space, according to Engadget. For new customers, the Starlink kit, dish, and antenna are now $599.
The monthly service fee has also been raised by $11, bringing the total to $110 per month, over $50 more than the average AT&T fibre package. For new subscribers, the new monthly pricing is now in effect, with existing customers’ prices set to rise on their next billing date.
Starlink Subscription prices get a hike due to Inflation
Users can get a $200 refund if they quit their Starlink subscription within the first year. If their equipment was delivered within the last 30 days, they can also claim a complete refund. Since the COVID-19 epidemic, the United States has been struggling with a wave of inflation, and with global markets destabilised by the Russia-Ukraine conflict, prices have risen across the board. To keep up, businesses have had to raise their pricing.
SpaceX’s prices are significantly greater than those of other internet companies who use fibre or cable. Apart from a workforce that needs to be equalised against the cost of living, SpaceX has rockets to fuel and launch, as well as satellites to develop and maintain.
According to CNBC, SpaceX has also boosted pricing for its rocket business. Tom Ochinero, Vice President of Commercial Sales at SpaceX, explained that the price rise was due to the “cost of everything,” citing the cost of components such as helium and gas, as well as the cost of labour.
The cost of launching a Falcon 9 rocket has increased by $5 million to $62 million. The cost of launching the Falcon Heavy has increased to $97 million, up from $90 million previously. While SpaceX has stated that future mission costs may rise, Starlink subscribers should not be affected.
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