‘Apple raises prices of MacBooks, iPads’:Apple CEO had warned of price hike citing rising input costs

Just few months ahead of the iPhone 18 launch, Apple CEO Tim Cook had warned of increasing prices of various gadgets like tablets, iPhones and accessories due to rising input costs, according to the ‘The Wall Street Journal.’ Apple has raised the prices of its products as the cost of the raw materials like that of memory chips have surged, the technology giant’s boss said. Tim Cook, Apple’s outgoing chief executive, had told the US-based journal that the price increase was ‘unavoidable,’ citing the situation on the ground. According to ‘Reuters,’ Macs and iPads have also seen price hikes. After holding prices steady while several smartphone brands increased their rates, Apple has also increased rates. According to Apple CEO Tim Cook, rising costs of key components used inside devices forced the company to consider increasing prices. Why has Apple raised prices? The main reason is the growing cost of memory and storage chips, which are essential parts of smartphones, tablets and laptops. Demand for these chips has surged as technology companies around the world invest heavily in artificial intelligence (AI). From AI-powered data centres to advanced computing systems, companies are buying huge quantities of memory chips, leaving less supply available for consumer electronics. Speaking to The Wall Street Journal, Cook had said Apple had tried hard to protect customers from these rising costs, but the situation had become increasingly difficult.