Qualcomm to Raise Chip Prices by Double Digits Starting September

Odaily reported that during Qualcomm's earnings call, CEO Cristiano Amon stated that the company plans to raise chip product prices starting September 1, with increases reaching double digits, in order to drive profit margins back to historical levels.

Amon said the price increase is primarily due to rising costs across the entire supply chain, rather than being solely driven by higher memory chip prices. Qualcomm will conduct pricing negotiations with each customer individually.

He noted that there is a temporary mismatch between current costs and product pricing, which led to a slight decline in gross margins in the short term.