Qualcomm to raise phone chip prices by double digits from September 1

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Qualcomm CEO Cristiano Amon confirmed on Wednesday that the company will increase prices across all its processors starting September 1st. The hikes are reported to be in the double digits percentage-wise. The announcement came alongside Qualcomm's quarterly earnings report, which revealed a 20 percent year-over-year decline in handset revenue — the steepest since 2021. The company attributed the revenue drop partly to unprecedented rises in memory pricing. The chip price increases are expected to further push up the cost of smartphones for consumers.

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