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FinanceQualcomm informs customers of double-digit price increases due to rising costs
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Qualcomm, a leading smartphone chipmaker, has informed its customers of double-digit price increases due to rising costs, according to a Bloomberg News report on July 24, 2026. The company sent a letter to clients on Friday stating that the price hike will apply to products shipped after September 1. Qualcomm cited an inability to absorb rising supplier costs and noted it has sought alternative components from new suppliers. The announcement comes as Qualcomm faces mounting pressure in the smartphone market, exacerbated by a memory chip shortage as investment shifts toward AI infrastructure. Qualcomm's shares fell over 1% following the news. The company is scheduled to report its third-quarter results on July 29. Reuters could not independently verify the report, and Qualcomm did not immediately respond to a request for comment.
Source report
Source: Reuters
Fri, July 24, 2026 at 10:33 AM PDT | 1 min read
Stock: QCOM -1.60%
July 24 (Reuters) – Smartphone chipmaker Qualcomm has notified customers of a double-digit percentage price increase 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%.
Key Details
- Price hike timeline: The company sent the letter to customers on Friday, informing them that the price increase will apply to products shipped after September 1, according to the report.
- Verification: Reuters could not independently verify the report.
- Reason for increase: Qualcomm told customers it could no longer absorb rising supplier costs and had sought alternative components from new suppliers, the report said.
- Market context: The report comes as Qualcomm faces mounting pressure in the smartphone market, squeezed by a memory chip shortage as investment is redirected toward AI infrastructure.
- Upcoming earnings: Qualcomm is scheduled to report its third-quarter results on July 29.
(Reporting by Anhata Rooprai in Bengaluru; Editing by Shilpi Majumdar)
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Qualcomm Announces Double-Digit Price Increases to Customers