Qualcomm is raising phone chip prices starting September 1st

Qualcomm CEO Cristiano Amon said the company will raise prices on its processors starting September 1, with reports suggesting the increases could be in the double digits. The move comes as Qualcomm’s handset revenue fell 20% year over year, which the company linked partly to surging memory costs.

Higher chip prices could add to upward pressure on smartphone prices, especially as memory costs are already rising across the supply chain. The shift suggests mobile hardware makers may face a tougher margin environment, making premium phones more expensive and midrange devices harder to price aggressively.