Summary Qualcomm has reportedly informed customers of double-digit price increases for smartphone chips effective from September amid rising supplier costs.
(Reuters) – Smartphone chipmaker Qualcomm has reportedly informed customers that it will raise prices by a double-digit percentage due to increasing supplier costs, according to a Bloomberg News report published on Friday.
The report said Qualcomm sent a letter to customers stating that the new prices will apply to products shipped after September 1.
Reuters could not independently verify the report, while the San Diego-based company did not immediately respond to a request for comment.
According to Bloomberg, Qualcomm told customers it could no longer absorb rising supplier costs despite efforts to source alternative components from new suppliers.
The reported price increase comes as Qualcomm faces growing pressure in the smartphone market, where a shortage of memory chips has been exacerbated by increased investment across the semiconductor industry in AI infrastructure.
Qualcomm is scheduled to report its third-quarter financial results on July 29.
