Tim Cook Says Apple Will Raise Prices Due to Memory Shortage

Rolfe Winkler, reporting for The Wall Street Journal (Apple News+): Apple plans to raise prices on its products to offset the surging costs of memory and storage chips, Chief Executive Tim Cook said in an exclusive interview with The Wall Street Journal. “Unfortunately, price increases are unavoidable,” he said. “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.” Cook declined to offer details on the timing or scale of the planned price increases, nor which products will be affected. Apple’s next major product launch is likely to be in September when it releases the iPhone 18 lineup, expected to include a new foldable iPhone. The memory shortage in particular has been debilitating for the tech industry. A new Raspberry Pi — a small computer with 4 gigabytes of memory — costs $150. Similar models used to cost around $100. The shortage, driven by a…