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Apple allegedly rejects TSMC chip price increase

Reports suggest that Apple is rejecting a 6% price increment by iPhone chip maker TSMC. Although, both companies are yet to confirm the news.

One of the biggest chipset makers in the world, Taiwan Semiconductor Manufacturing Co, told its customers that they would be paying more for processors in 2023. In a statement by one of its executives, the company had seemed apologetic for the move but considered it necessary.

“We are all in a great shock and all of our account managers need to speak to our customers to see if we can renegotiate some of the contracts. We haven’t seen TSMC introduce such a broad rate increase in over a decade,” the statement read.

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However, Apple is flat out disagreeing with the new pricing. It is not yet clear what the iPhone makers plan to do if the negotiations come to a standoff, but it is TSMC’s biggest customer, and the hope is that its refusal may mean that the manufacturers would reconsider their position.

TSMC’s price increase may be due to the chip shortage that has plagued the electronics industry for the past year or so. As Apple Insider says, several other chip manufacturers have also taken the liberty to increase their prices.

It looks like the iPhone makers are worried that their new smartphones may not sell too quickly if they increase prices to match the new manufacturing costs. Although, it seems that it has already increased the price of its new hot product, the iPhone 14, in several markets outside the US and China.

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Onwuasoanya Obinna

A reader of books and stringer of words. Passionate about Science and Tech. When not writing or reading he is surfing the web and Tweeting.