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Intel begins informing customers about plans to increase chip prices

Intel Corp. said Thursday it has begun informing customers of its plans to raise prices on many of its chips due to rising costs. come into effect in the fall, and the percentage increase is likely to range from a minimal single-digit increase to more than 10 percent, and in some cases as much as 20 percent, the Nikkei said. While the price increase has not yet been finalized, it could cover Intel’s flagship products, such as CPUs for servers and computers, as well as merchandise, including chips for Wi-Fi and other communications, the report said Thursday.

Intel’s move comes amid a supply chain crisis caused by a global pandemic that has deprived personal computer and smartphone makers of the computer chips they need to make their products.

It was reported last month that Intel had suspended hiring for its desktop and laptop chip division, according to a memo reviewed by Reuters, as part of a series of cost-cutting measures. According to a notice sent out Wednesday, Intel is “pausing hiring and postponing all job applications” in its customer computing group. The memo stated that some hires could be reopened as little as two weeks after the unit reprioritizes, and that all current job offers in its systems would be taken into account.

“We believe we are at the beginning of a long-term growth cycle for the semiconductor industry and we have the right strategy in place,” Intel said in a statement. “Better attention and prioritization of our spending will help us overcome macroeconomic uncertainties, deliver on our strategy and deliver on our commitments to customers, shareholders and employees.”

© Thomson Reuters 2022

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