Tim Cook Says Apple Facing Unprecedented Problem: 'I've Never Seen Anything Like It'
Apple CEO Tim Cook this week said that price increases are "unavoidable" due to the ongoing RAM shortage, which has led to skyrocketing prices for memory chips.
"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," said Cook, in an interview with The Wall Street Journal. "I've never seen anything like it in any area in over 40 years," he added.
Cook did not provide a timeframe for Apple's price increases, or indicate if they will apply to any existing products or be limited to future products only. The product lines most likely to be impacted include the iPhone, iPad, and Mac.
The chip shortage is being driven by companies like Nvidia and OpenAI building out AI server facilities. Cook said Apple is facing "significantly higher memory costs," and it appears the company will now pass this on to customers.
Popular Stories
The Independent's David Phelan on Wednesday interviewed Apple's executive chairman Tim Cook at Apple's U.K. headquarters in the Battersea Power Station, and one of the topics they discussed was John Ternus taking over as Apple's CEO.
Ternus, who was previously Apple's hardware engineering chief, succeeded Cook as Apple's CEO on September 1. Cook said the transition "started years ago."...
In his new role as the executive chairman of Apple's board of directors, Tim Cook told The Independent's David Phelan that he is "not meddling" with Apple's new CEO John Ternus.
"First of all, John and I have an incredible level of trust in each other," said Cook. "The relationship must be based on trust, and the communication must be frequent and significant. But other than that, what I'm...
Tim Cook is visiting China for the third time this year, with talks in Guangdong focused on expanding Apple's manufacturing and sales operations, the South China Morning Post reports.
This is Cook's first China trip in his capacity as Apple's executive chairman. He moved into the position on September 1 when John Ternus took over as CEO. Apple has said part of Cook's work involves...
