Qualcomm Is Raising Prices by Double Digits, Bad News for Consumers
Qualcomm has announced double-digit price increases starting in September, citing component shortages and supply chain pressures.
Qualcomm sent a letter to customers on Friday warning of plans to raise its prices by a double-digit percentage, according to Bloomberg. The new prices will apply to products shipped after September 1.
The company said it has exhausted its ability to absorb higher costs from suppliers as ongoing component shortages drive up prices. Qualcomm also stated that it tried to source components from alternative suppliers before announcing the price hike.
This move will likely have a ripple effect, especially on smartphones. Qualcomm's chips power everything from Samsung's latest foldables to upcoming smartglasses and even $300 Windows PCs that the company promised earlier this year. Device manufacturers may pass the cost increase to consumers, making these gadgets more expensive.
Qualcomm is not alone in raising prices. Due to component shortages, everything from Xbox consoles and Raspberry Pi boards to most Apple devices and Samsung and Google smartphones have become pricier. Some devices have even seen upgraded prices alongside downgraded specs, while others have been canceled or delayed.
