Apple CEO Tim Cook has warned that rising costs for memory and storage chips will force price increases on the company's products.
Cook told The Wall Street Journal that the company has tried to absorb higher costs but can no longer do so. "Unfortunately, price increases are unavoidable," he said. "We've been trying to shield our customers from the increases, but the situation has become unsustainable."
The comments come months before the expected launch of the iPhone 18 lineup. Cook did not specify which products or when the changes would take effect.
Higher demand for chips driven by AI data centers has outpaced supply, affecting costs across the tech sector. The impact is expected to last into 2028.
