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Qualcomm Plans Double-Digit Chip Price Hikes
24 Jul
Summary
- Qualcomm notified customers about upcoming price increases.
- The price hikes are expected to be in the double digits.
- Rising operational costs are cited as the reason for the increase.
Smartphone chip manufacturer Qualcomm has alerted its clientele to impending price adjustments. The company intends to implement price increases in the double-digit percentage range.
This decision stems from escalating operational expenses, according to a report citing a letter sent to customers. Qualcomm, based in San Diego, California, has not yet issued an immediate comment regarding the price hikes.
Following the news of the planned price increases, Qualcomm's shares experienced a decline, trading down more than 1%.
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