Quartz·2 min read·medium
Qualcomm's profit slid as higher costs squeezed margins and Apple chip revenue shrank faster than expected
✦AI Summary
Qualcomm is facing a profit decline due to rising operational costs and a faster-than-anticipated drop in Apple-related chip revenue. To mitigate these financial pressures, the company plans to implement price increases starting in September.
The chipmaker plans to raise prices starting September 1 to offset industry-wide cost increases, while its outlook for the current quarter came in below analyst expectations
businesstechnology
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