Apple products are about to get more expensive, Tim Cook says

Apple is about to raise the price of its products, chief executive Tim Cook has warned. 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. Mr Ternus is expected to have taken his new role , which usually happens in mid-September.