Better buy that PC now, Intel plans to raise prices of its chips later this year
Eyeing a new PC? Better buy it soon.
(Image source: Intel)
According to Nikkei Asia, Intel has informed its customers that it plans to raise prices on the majority of its processors and peripheral chip products later this year. The chip giant cited rising costs as the reason for this price hike.
The report says the price hike will take place in the fall and will impact its processors for PCs and servers, as well as its chips for Wi-Fi and other components.
Intel said that the price hikes are necessary because of the rising costs of materials and production. Though the exact increases have yet to be finalised, the report says it could be as high as 10% to 20% in some cases.
The timing of this announcement couldn't be worse. Demand for consumer electronics have weakened significant and manufacturers reportedly sitting on growing inventories of unsold items.
A recent report said that Samsung is sitting on as many as 50 million unsold phones. Acer Chairman Jason Chen also told reporters recently that the company is no longer suffering a chip shortage. He added that chip suppliers have instead been calling him to buy more chips.
Source: Nikkei Asia
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