NEW YORK -- Industry reports show Nike plans to raise the price of its sneakers, starting with the LeBron X, set to debut at $315.
If you watched the Olympics from London on NBC, you already got a chance to see the shoes because LeBron James wore them during the men's basketball final against Spain for the gold medal.
Industry insiders say the LeBron X features electronics, including Nike+ motion sensors, so users can track their vertical leaps. It also has the Hyperfuse construction of the LeBron 9 shoes.
Nike first edition LeBron -- the Nike Zoom Generation -- retailed for around $110 in 2003; the ninth edition retails for around $250.
Based in Beaverton, Ore., Nike says it is passing along price increases because many of key materials, such as cotton, have risen in price over the past 18 months.
Prices did moderate somewhat in the past quarter. Nike also faces rising labor costs in China, where it manufactures a third of its products.