The head of Apple stated that the company's products will inevitably become more expensive

Apple plans to raise prices on its devices due to rising costs of memory chips and storage, which the company can no longer absorb on its own.

As reported by MacRumors, Apple CEO Tim Cook shared this information with The Wall Street Journal.

According to Cook, the company has long tried to shield customers from price increases, but the situation has become unsustainable. He did not specify which devices would become more expensive or by how much prices would rise, but the changes could affect future models of iPhone, iPad, and Mac.

One of the cited reasons is the sharp increase in demand for memory and storage from companies developing artificial intelligence (AI) technologies. This has led to a component shortage and an increase in their cost. According to TechInsights, to maintain its current profitability, Apple may need to raise the price of the iPhone 18 Pro by approximately $270.

Cook noted that the company is particularly feeling the shortage of memory chips, although the problems also affect the storage market. He said that supply is shrinking at a time when consumers expect ever-greater amounts of memory in their devices to support new AI features. The Apple chief compared the situation to "a once-in-a-hundred-year flood," adding that he had not encountered anything like it in more than 40 years of work.

As the publication notes, similar measures have already been taken by other major technology companies, including Samsung, Microsoft, Sony, and Dell, which have also raised prices on some of their products.