Tim Cook has commented on the unavoidable rise in the cost of Apple products as memory prices surge. Cook currently serves as the chief executive of the tech conglomerate and recently opened up about the tumultuous state of the RAM market.
During a recent interview, he spoke about the unfortunate news of plans to raise product prices, as well as what the company has done to try to prevent these increases in the past.
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Tim Cook Says Rising Memory Prices Leave Apple Few Options
In an interview with the Wall Street Journal, Tim Cook called the upcoming rise in prices unavoidable. He also noted that they had been doing their best to mitigate these increases.
“Unfortunately, price increases are unavoidable,” he said. “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.”
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Apple hasn’t unveiled its next line of iPhones. Those are usually revealed around September at an exclusive Apple event. This year, it’s expected that Apple will finally unveil a folding iPhone. Android brands, especially Samsung, have been producing foldable models for several years now.
New high-end iPhones have been over $1,000 for several years. While it’s not known how high prices will be set, Apple could see its new era, led by new CEO John Ternus, kick off with a struggle if prices are too high even for the most loyal Apple customers. Tim Cook is stepping down as CEO on September 1. However, he will remain with the brand as the executive chairman.
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