Qualcomm tells customers of double-digit price increases: Bloomberg

Smartphone chipmaker Qualcomm told customers it would raise prices by a percentage in the double digits due to rising costs, Bloomberg News reported ‌on Friday, ⁠citing ⁠a letter sent to clients.

Qualcomm sent the letter to customers on Friday, informing them that the price hike will go into effect for ⁠products shipped ‌after September 1, the report said.

The company ⁠told customers it could no longer absorb rising supplier costs and had sought alternative components from new suppliers, Bloomberg reported.


Qualcomm declined to comment. Reuters could not independently verify the ‌report.

The chipmaker has been grappling with mounting pressure in the smartphone market, ⁠which has been squeezed by a memory chip shortage as investment is redirected toward AI infrastructure.

Qualcomm is set to report its third-quarter results on July 29.