Qualcomm tells customers of double-digit price increases, Bloomberg News reports
QCOM•Details from the reported customer letter
- The company 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.
- Reuters could not independently verify the report.
- Qualcomm told customers that it could no longer absorb rising supplier costs and had sought alternative components from new suppliers, the report said.
- The report comes as Qualcomm grapples with mounting pressure in the smartphone market, 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.
Qualcomm reportedly plans double-digit price increases
July 24 (Reuters) - Smartphone chipmaker Qualcomm QCOM.O has 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.
The San Diego, California-based company did not immediately respond to a Reuters request for comment. Its shares were trading down more than 1%.
