Apple CEO Tim Cook has announced that the company anticipates raising product prices. The decision comes as the tech giant faces increasing costs for memory chips, a critical component in its devices.
Cook indicated that an iPhone price increase is "unavoidable" given the current market conditions. The rising expenses associated with memory chips are reportedly squeezing the company's profit margins, necessitating the adjustment.
Multiple reports confirm Apple's plans to implement these price hikes. This is a developing story and will be updated as details emerge.
