MarketPR
A double-digit price increase is in focus for Qualcomm (QCOM) customers after the chipmaker sent a formal letter on Friday warning that higher rates will apply to products shipped after September 1st, Bloomberg reported.
Qualcomm says it has exhausted its ability to absorb higher costs from its suppliers as component shortages continue to press on prices throughout the supply chain.
The ripple effect, Bloomberg notes, is expected to be felt most sharply in the smartphone market.
What the letter says The customer letter states that Qualcomm reached a point where it could no longer absorb the input cost increases coming from its supplier base.
Keep reading