Qualcomm is raising phone chip prices starting September 1st

RAMageddon won't be the only reason your next phone costs more - Qualcomm is about to raise prices on all its processors, as well. Qualcomm CEO Cristiano Amon said on Wednesday that "prices are going to go up" on the company's products starting on September 1st, CNBC reports.

The price hikes were rumored last week to be "a percentage in the double digits. " Qualcomm announced the planned price increases while reporting a 20 percent year-over-year drop in revenue from its handset business, the lowest it's reported since 2021.