Qualcomm confirms incoming price hike, and rising memory cost isn’t the only driving factor

Qualcomm will raise chip prices starting September 1 as costs rise across manufacturing, assembly, testing, packaging, and memory.

CEO Cristiano Amon said the company will pass those higher costs on instead of absorbing them.

The move comes as Qualcomm faces weaker smartphone chip sales and lower expected modem share at Apple.

Qualcomm is leaning more on automotive and data center revenue, but higher chip prices could still push up Android phone costs worldwide.