Qualcomm is raising phone chip prices starting September 1st

Qualcomm is increasing the prices of its phone chips, with the hike set to take effect on September 1st. According to CEO Cristiano Amon, the price increase will be in the double digits, contributing to higher costs for future phones. The announcement comes as Qualcomm reports a 20 percent year-over-year decline in revenue from its handset business, its lowest since 2021. The decline is attributed to significant increases in memory pricing, which will further impact the cost of upcoming phones.

✦ AI-generated summary