Apple CEO Tim Cook confirmed price increases across the company’s product lineup during a Wall Street Journal interview. Cook attributed the hikes to soaring memory and storage chip costs, describing the market as a hundred-year flood.
Surging AI sector demand for memory chips is currently straining the consumer electronics supply chain. The Wall Street Journal estimates base iPhone models could see price increases exceeding $200.
Apple expects to announce the new pricing with its September product launch. Some Mac and iPad models may see price adjustments earlier.