Vivo and iQOO announced plans to raise the prices of some of their smartphones in the coming days. According to a joint statement, the new prices will take effect on March 18 at 10:00 AM local time in China.
The statement indicated that the increase will include “specific models” of phones, without revealing yet which devices will be affected by this step. Although the announcement concerns the Chinese market, this increase is likely to later be reflected in prices in global markets as well.
The main reason behind the decision is the high costs of components, especially memory and electronic chips. Analysts had previously warned of the possibility of an increase in phone prices during the coming period.
Pressure is also increasing on the chip market due to growing demand from artificial intelligence companies, along with concerns regarding the supply of helium, an important component in semiconductor manufacturing processes.
