Qualcomm is raising phone chip prices starting September 1st
Qualcomm has announced a double-digit percentage price increase for its processors starting September 1st to offset declining handset revenue and rising memory costs. The company is simultaneously pivoting its business strategy to focus more on data centers and automotive sectors to reduce its reliance on smartphone sales.
Why it matters
As a major chip supplier, Qualcomm's price hikes will likely lead to increased costs for consumer electronics, including smartphones and laptops, impacting global inflation in the tech sector.
RAMageddon won’t be the only reason your next phone costs more — Qualcomm is about to raise prices on all its processors, as well. Qualcomm CEO Cristiano Amon said on Wednesday that “prices are going to go up” on the company’s products starting on September 1st, CNBC reports. The price hikes were rumored last week to be “a percentage in the double digits.”
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