Apple CEO Tim Cook confirmed product prices will go up as memory chip costs surge. He said the increases are “unavoidable” and “unsustainable,” leaving uncertainty ahead of the iPhone 18 launch in September. The news comes as demand for chips continues to rise, driven by artificial intelligence, which drives costs higher. Soon, consumers will face more expensive devices as supply chain pressures continue. Research firm Omdia expects smartphone prices to rise by as much as 20 percent in 2026. Apple’s new phones could cost up to $150 more than the iPhone 17 series. Other companies, including Samsung, Sony, Nintendo, and TSMC, have also warned of higher prices due to shortages and inflation. Apple sales still grew 17 percent in early… Read More
Tim Cook warns of Apple price increase amid memory shortage
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