Qualcomm sends letter to customers on price increase: 'Cannot absorb rising costs'
Qualcomm has reportedly notified its customers that it will raise prices by double-digit percentages starting this fall. According to a report by Bloomberg, the world’s largest manufacturer of smartphone processors issued a letter to clients detailing the upcoming price hikes, which will apply to all products shipped after September 1.
The San Diego-based tech giant explained that it can no longer cushion the financial impact of soaring component prices, forcing it to pass higher costs down the supply chain. As per a copy of the letter viewed by the publication, the company said it had exhausted its ability to absorb rising costs from suppliers and had made attempts to secure alternative components from new sources.
The San Diego-based tech giant explained that it can no longer cushion the financial impact of soaring component prices, forcing it to pass higher costs down the supply chain. As per a copy of the letter viewed by the publication, the company said it had exhausted its ability to absorb rising costs from suppliers and had made attempts to secure alternative components from new sources.
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