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

QUALCOMM Incorporated

24/07/2026 22:45

Adds Qualcomm's response in third bullet
July 24 (Reuters) - Smartphone chipmaker Qualcomm QCOM.O 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.
Here are some details:
Qualcomm 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.
The company told customers it could no longer absorb rising supplier costs and had sought alternative components from new suppliers, Bloomberg reported.
Qualcomm declined to comment. Reuters could not independently verify the report.
The chipmaker has been grappling with mounting pressure in the smartphone market, which has been 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))