Qualcomm tells customers of double-digit price increases, Bloomberg News reports

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July 24, 2026 1:33 PM EDT

Qualcomm logo is displayed at the company’s booth at the 8th China International Import Expo (CIIE) in Shanghai, China, November 5, 2025. REUTERS/Maxim Shemetov

July 24 (Reuters) - ‌Smartphone chipmaker ​Qualcomm ​told customers it would raise prices by a percentage ‌in the double digits due to ⁠rising costs, Bloomberg News reported on ‌Friday, citing a letter ‌sent to clients.

Here are some details:

• Qualcomm sent the letter to ​customers on Friday, informing them that the price hike will ⁠go into effect for products shipped after September ​1, the report said.

• The company told customers it could ​no longer absorb rising ‌supplier costs and had sought alternative components from ⁠new suppliers, Bloomberg reported.

• Qualcomm declined to comment. Reuters could not independently ⁠verify the report.

• The chipmaker has been ​grappling with mounting pressure in the smartphone market, which has been squeezed by a ‌memory chip shortage as investment is redirected toward AI ‌infrastructure.

• Qualcomm is set to ⁠report its third-quarter ‌results on ​July 29.

(Reporting by Anhata Rooprai in Bengaluru; Editing by Shilpi ‌Majumdar)


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