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Smartphone chipmaker Qualcomm has reportedly informed customers that it will implement a double-digit percentage price increase on its products, citing rising costs, through a letter.
According to the report, Qualcomm said it can no longer absorb rising supplier costs and has been exploring alternative component sources by working with new suppliers to mitigate the impact.
The company notified customers that the revised pricing will apply to products shipped from September 1 onward.
The reported price increase comes as Qualcomm faces growing challenges in the smartphone market, where the industry is dealing with a memory chip shortage driven by increased investment in AI infrastructure.
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