Apple to raise prices on its products

Apple CEO Tim Cook said in an interview with The Wall Street Journal (WSJ) that the company plans to raise prices on its products.

According to him, this measure is necessary to compensate for expenses due to the sharp increase in the cost of memory chips and drives.

"Unfortunately, price increases are inevitable. <...> We are doing everything possible to mitigate the huge price increase and are trying to protect our customers from this increase, but the situation has become unsustainable," the newspaper quotes Cook as saying.

The head of the company did not report the exact timing of the planned price increase or which Apple products will be affected, WSJ notes. The company's next major product launch is likely to take place in September, when it will release the iPhone 18 smartphone lineup.

As the publication points out, memory chips are key components of most computing devices, including smartphones, laptops, game consoles, medical equipment, and even cars.

Cook told the newspaper that Apple is ready to use its cash reserves to increase supplies of memory chips.

Source: TASS