Apple Plans To Raise Prices On Its Products - CEO

WASHINGTON, June 18 (Bernama-Sputnik/RIA Novosti) -- iPhone maker Apple plans to raise prices on its products to offset the sharp rise in the cost of memory chips, Sputnik/RIA Novosti reported, citing Apple CEO Tim Cook.

"Unfortunately, price increases are unavoidable," he said in an interview with the Wall Street Journal.

He added that the company had tried to protect customers "from the increases," but the situation had become "unsustainable."

-- BERNAMA-SPUTNIK/RIA NOVOSTI