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Gadgets News

The Economic Times

Gadgets / The Economic Times

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Apple to raise prices due to memory chip shortage, CEO Tim Cook says: Report

Apple CEO Tim Cook announced plans to increase product prices due to soaring memory and storage chip costs, driven by AI demand. He stated price hikes are unavoidable as the company struggles to absorb escalating component expenses. Cook emphasized the need for memory pricing and supply to stabilize for consumer products.

18 Jun 2026 6:19 am