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

QUALCOMM Incorporated

24/07/2026 18:26

    July 24 (Reuters) - Smartphone chipmaker Qualcomm QCOM.O 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%.
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.

 (Reporting by Anhata Rooprai in Bengaluru; Editing by Shilpi Majumdar)
 ((Anhata.Rooprai@thomsonreuters.com))