APPLE TO RAISE PRODUCT PRICES DUE TO MEMORY CHIP COSTS

Apple plans to increase the prices of its products as the cost of memory chips has risen significantly, according to Tim Cook, the technology company's outgoing chief executive. Cook told The Wall Street Journal that price increases are unavoidable because the memory chip situation has become unsustainable. He did not specify when the price rises will take effect or which products will be affected. It remains unclear whether the increases will apply to the iPhone 18, which is expected to launch in September.

Memory chips are essential components in mobile phones and other smart devices, and their prices have surged due to increased demand from the artificial intelligence sector. The price of RAM has more than doubled since October 2025. Cook stated that Apple has attempted to absorb and shield customers from these cost increases, but the situation no longer permits this approach. Supply chain disruptions have compounded the issue, with the war in Iran disrupting the global supply of helium, a gas crucial in semiconductor manufacturing. Cook noted that memory pricing and supply must return to reasonable levels for consumer products.

John Ternus will replace Cook as Apple's chief executive in September after Cook's 15-year tenure. The company previously raised the price of its Mac Mini compact computers by approximately £150 earlier this year. Sales of Apple devices grew by 17 per cent in the first three months of 2026 compared with the same period in 2025, driven partly by strong demand in China. The iPhone 17 has maintained popularity since its launch last September.