September 2022: A leading IT company in India, Synersoft Technologies, has expressed concern over uncertain supply of semiconductors, steep rise in the cost of electronic storage media, skyrocketing wage trends in technologies and the strengthening of the US dollar against the Indian dollar. rupee. All models in Synersoft’s BLACKbox product line will see their prices increase from October 1, 2022.
BLACKbox is a popular data protection product in the MSME sector in India.
Vishal Shah, Founder of Synersoft, says, “We cannot maintain current price lists on all models beyond September 28, 2022. This is not a sudden thing. It all started in the last twelve months. The semiconductor supply crisis has resulted in the high cost of components used in the product we have absorbed over the past twelve months. The rise of the US Dollar against the Indian Rupee has had a negative impact on our costs for most of these components, being imported, making it impossible to maintain BLACKbox’s current price list. Our Research and Development includes talented software engineers
who develop the BLACKbox console and agent software. Dominant salary trends in technology have led to an extraordinary increase in the costs of acquiring and retaining talent. Overall, we have exhausted our capacity to absorb this three-dimensional increase in our costs. We will honor the listed prices until September 28, 2022.”
This is the case for many Indian industries. For the same reasons, the prices of passenger vehicles have increased and deliveries are delayed. Prices for home appliances and consumer electronics have increased significantly. It also delays industrial automation and IoT projects.