Cook told The Wall Street Journal that, "unfortunately, price increases are unavoidable," stating that the company has faced rising costs on memory and storage chips used in its products.

Tim Cook, Apple’s chief executive, said higher prices were now “unavoidable” across its range of gadgets, claiming they would remain elevated until costs return to “reasonable levels”.

Tim Cook , outgoing Apple CEO, told The Wall Street Journal in an interview: "We're doing our best to mitigate the huge increases that are being passed to us, and we've been trying to shield our custo...