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

Reuters | July 24, 2026 | 11:28 PM IST | Breaking News, Business, Stock Market | Follow on Google News

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

July 24 (Reuters) – Smartphone chipmaker Qualcomm has 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.

The San Diego, California-based company ​did not immediately respond to a ⁠Reuters request for comment. Its shares ​were trading down more than 1%.

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Here are ​some details:

• The company 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.
• Reuters ⁠could not independently verify the report.
• Qualcomm told customers that it could no longer absorb rising supplier costs and had ​sought alternative ​components ⁠from new suppliers, the report said.
• The report comes as Qualcomm ​grapples with mounting pressure in the ​smartphone ⁠market, 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.

Reuters