iPhone Prices Expected to Rise as Global Memory Chip Shortage Bites

Apple is set to unveil its next generation of iPhones this week, with analysts expecting higher prices due to surging memory chip costs. The global memory shortage has made it increasingly difficult for manufacturers to absorb supply-chain expenses, reversing a decades-long trend of falling memory prices. This shift, sometimes dubbed 'chipflation,' threatens to make consumer electronics more expensive for the first time in years. References to memory shortages appeared in nearly 500 company earnings transcripts last quarter, underscoring how widespread the issue has become across the industry.