Samsung plans to hike chip prices by 15% to 20%

According to Bloomberg, Samsung has discussed price increases of up to 20 percent with chip customers to offset rising costs, a move that could lead to higher prices for consumer electronics, including smartphones .

Samsung has concluded new pricing talks with some customers and prices could rise by 15% to 20%, with older chip designs likely to face the highest increases, the report said.

Bloomberg ranks Samsung as the world’s second-biggest foundry chipmaker after TSMC, suggesting the price hike could have broad implications. It explained that any uptick could be implemented in the second half of the year.

Samsung’s semiconductor revenue in the first quarter rose 39% year-on-year to 26.9 trillion won, apparently helped by a global parts shortage.

Rising prices also pushed TSMC to record revenue in the first quarter, even beating its own expectations.

Elliott is passionate about business and finance news with over 5 years in the industry starting as a writer working his way up into senior positions. He is the driving force behind with a vision to broaden the company’s readership throughout 2016. He Covers business category.

Elliott holds a Bachelor of Science Degree from Lehigh University, where he majored in Finance and Accounting, with a minor in History. His mainly focused on Investments and Financial Analysis.

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