Chord Electronics Announces Price Reductions: HiFi Prices Decrease?

Chord DAC Price Reduction 2023 DACs Lined Up

September 1, 2023

Chord Electronics Announces Price Reductions

The story is the same regardless of your hobby, needs, or products you love, supply chain issues created during COVID along with inflation significantly increased the prices of almost everything.  Of course, this is something high-end audio aficionados accept since this is our passion, our muse, and the place (or one of the places in case you love another bottomless passion pit) where you invest your hard-earned money.  Usually, when prices increase due to a plethora of reasons they do not decrease.  Economics law #7000.48B: what goes up almost never comes down.  Until now.

Chord Electronics announced today that after years of shortages and painful cost increases, their purchasing costs have decreased.  Unlike most instances in audiophile history, Chord decided to pass on significant price reductions in many of their most popular models:

While “significant” is a word that can be relative depending on who you ask, a 25% price reduction to me is significant regarding a retail price.  Take for instance the Chord Qutest.  On the used market (according to HiFi Shark), prices average between $1000-$1500.  That was based on the retail price of $2125.  Now at a retail price of $1600, you are close to the high end of the used market for a brand new product.

Chord Qutest Front View

How Did Chord Electronics Possibly Reduce Prices in 2023?

I’ll leave that to a quote in the press release information provided by Colin Prat, Sales Director of Chord Electronics.

“The global pandemic had an adverse effect on electronic component pricing and there was a scarcity of mostly digital components. Thankfully, the situation has been easing recently, even leading to overcapacity; most manufacturers should now be in a position where their cost prices have come down!

At Chord Electronics, we truly value our relationship with distributors and dealers. As our costs have decreased, and as a responsible partner, we want to pass these savings to our business partners and dealers [and customers].

To give you some insight, Chord Electronics is one of the UK’s largest consumers of FPGA chips and these became four times more expensive back in 2021/22. This had a considerable consequence on our trade pricing structure. But now, you [dealers] and your customers can benefit from better pricing.”

Chord Electronics Price Reductions 2023 Full Details

Below are the product price changes in USD.  I’m sorry to our international friends that I don’t have all the details for international pricing!

The Qutest is clearly the best deal but the news here is a high-end audio manufacturer like Chord, who for the last 30 years has exclusively manufactured products in the UK, decided to reduce prices.  While this is incredible news for audiophiles and Chord fans, there is a question bubbling to the surface subsequent to this announcement.  Will any other companies follow Chord’s lead?

How to Purchase

  • Audio Advice: See the links above for each product (when you buy these links you do help the channel so thank you in advance!).
  • Local Chord Dealers Near You
  • For those local to my area in the US (PA, MD, DC, VA), check out Now Listen Here.  They are not only a Chord Electronics Dealer with 2 locations (Harrisburg PA and Falls Church, VA), but I also was able to glean information for this press release from them along with the most updated pricing. Support local!

 

Chord Electronics Hugo M Scaler Upsampler Top View

 

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