Qualcomm is raising the prices of mobile chips from September 1

RAMageddon won’t be the only reason your next phone costs more – Qualcomm is about to raise prices on all of its processors. Qualcomm CEO Cristiano Amon said on Wednesday that “prices will increase” for the company’s products starting September 1st, Price CNBC reports. The price hike was rumours last week it was “a percentage in the double digits.”

Qualcomm has announced a planned price increase while reporting a 20% year-over-year decline in its mobile business, the lowest it has said. starting in 2021. In its quarterly earnings statement, Qualcomm said the decline was due to “excessive increases in memory prices and supply issues,” which have been ongoing. raising prices on everything from console games to laptop and even Raspberry Pi boardswithout a stop sign in the near future. But instead of making less profit, the company says it will raise its prices to make up for it.

Qualcomm is also expecting an “acceleration” in the decline in revenue from Apple products, noting that “its modem share in the iPhone launch is expected to decline significantly.” It said twice on the earnings call that its other businesses have made a difference.

As smartphone revenues decline, it appears that Qualcomm is planning to become a three-pronged, data center, and automotive company – it said today that soon half of its revenue will come from smartphones, and a third will come from smartphones by 2029, as its data centers and automotive businesses.

On Wednesday, Qualcomm announced a ten-year deal offering chips to BMW. Qualcomm EVP, CFO, and COO Akash Palkhiwala also said that some OEMs have started using Qualcomm’s “old generation” chips in their devices due to the high cost of goods.