Apple to raise prices as AI boom pushes up chip costs
- Apple, the technology company, says it intends to raise the prices of some of its products as the cost of memory chips continues to climb
- Outgoing Apple CEO Tim Cook described the planned price increases as "unavoidable," saying the surge in memory chip prices has made the current situation unsustainable
- The planned price increases have raised concerns among Apple users who fear they may have to pay more for future devices
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Apple plans to increase the prices of some of its products as rising memory chip costs continue to put pressure on the company's manufacturing expenses.
Outgoing Apple Chief Executive Tim Cook told the Wall Street Journal that price increases had become "unavoidable" because the cost of memory chips had reached unsustainable levels.
Source: Getty Images
However, he did not indicate when the changes would take effect or specify which products would be affected.
It also remains unclear whether the expected iPhone 18, which is anticipated to launch in September, will be among the devices impacted by the planned price adjustments.
Memory chips are key components in smartphones and other electronic devices. Industry analysts have linked the recent surge in chip prices to growing demand driven by advances in artificial intelligence technologies.
Meanwhile, US President Donald Trump announced that Apple had agreed to work with chipmaker Intel to manufacture its chips in the United States.
Apple to raise prices due to memory chip crunch:
In a post on Truth Social, Trump said the move would help strengthen domestic chip production. Apple and Intel have not publicly commented on the announcement.
Intel's shares rose by more than 10 per cent after the news was announced.
Source: YEN.com.gh
