Apple to raise product prices amid chip costs

Apple has announced plans to raise the prices of its products due to rising costs of memory and storage chips, driven by increasing demand for AI chips and high production costs. The company did not specify when or by how much the price increases will occur, but estimates suggest that passing on these costs could lead to an increase of up to $270 in the upcoming iPhone Pro model. This comes amid a fourfold rise in memory chip prices since last year, with expectations that prices will continue to rise until 2027. In September, Apple is set to launch its first foldable phones alongside the iPhone 18 series, with a plan to urgently increase prices for Mac and iPad devices due to these challenges.

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