Apple is planning to increase the price of its products, as the costs of memory chips have increased, the statement of the head of the technological giant was quoted by the BBC.
Outgoing Apple CEO Tim Cook told The Wall Street Journal that price hikes were “inevitable” because the situation around memory chips had become “untenable.”
He did not say when the prices would rise or which products would be affected by the decision. It is also not clear whether the increase in price will affect the iPhone 18 expected in September.
Memory chips are essential components of smart devices such as mobile phones, but rising demand for artificial intelligence (AI) has driven up prices in recent months.
“We’re doing everything we can to moderate the huge cost increases that we’ve been forced to face and we’ve tried to protect our customers from price increases, but the situation has become unsustainable,” Cook told the WSJ. “There’s less supply at a time when consumers want devices and memory makers are throwing huge price increases at us,” added Cook, who is slated to succeed John Ternus as Apple’s CEO in September after 15 years at the helm.
