Qualcomm is raising phone chip prices starting September 1st

Qualcomm will raise chip prices on September 1 as handset revenue falls and memory and supply pressures persist.

CEO Cristiano Amon said the company is facing a 20% year-over-year decline in handset revenue.

Qualcomm’s modem share in the next iPhone launch is expected to be lower, while Apple continues to diversify suppliers.

The company is also expanding into data centers and automotive, including a long-term chip supply deal with BMW.