Warning comes ahead of expected launch of iPhone 18 in September
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Mr Cook did not indicate what prices would rise, or when. But the warning comes before Apple is expected to announce the new iPhone 18, in September, as well as a range of other products.
The changes were “unavoidable” because of a rise in the price of memory chips that had become “unsustainable”, he told the Wall Street Journal. The central cause of the problem is the boom in AI, which requires vast amounts of memory chips and so has driven the price of them up and the availability down.
Products such as phones rely on RAM to work, but its cost has more than doubled since the end of last year. That has already had an effect on the cost of phones – which have risen by 20 per cent in 2026 – and analysts suggest that it is likely to drastically reduce the number of mobiles sold this year.
While many other companies have restricted supply, increased prices or changed the phones they offer, Apple is yet to reflect the increased cost in its products. But it is rumoured to have already delayed the release of some products – including an update to the high-end Mac Studio – because of the increased price. "We're doing our best to mitigate the huge increases that are being passed to us, and we've been trying to shield our customers from the increases, but the situation has become unsustainable,” Mr Cook said. "There's less supply at a time when consumers want devices and the memory guys are passing along huge price increases.”
Mr Cook has announced that he will step down in September, to make way for hardware chief John Ternus as the company’s new chief executive. Mr Ternus is expected to have taken his new role by the launch of the new iPhone, which usually happens in mid-September.
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