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During Qualcomm's earnings conference call, CEO Cristiano Amon revealed that the company will implement a significant price increase for its products starting September 1, with the hike reaching double digits. This move is strategically aimed at restoring profit margins to their historical averages. Amon emphasized that the price adjustments are a response to escalating costs throughout the entire industrial supply chain, rather than being solely driven by the surge in memory chip prices. He further elaborated that Qualcomm will engage in individualized pricing negotiations with its customers. Owing to the temporary misalignment between cost increases and pricing adjustments, gross margins are expected to witness a slight dip in the short term.
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