Tech experts warn that a global memory chip shortage, fueled by major tech companies like Google, Microsoft, and Meta, is driving up prices for consumer electronics. RAM, essential for quick data access, is in short supply, leading to higher costs for laptops, tablets, and smartphones. Industry experts predict price increases of up to 20% or more over the next 12-24 months.
Dwight Dubowits from Concept Computers notes that entry-level laptops now start at $800-$900, with basic models potentially reaching $1,200-$1,300. Local dealers are reducing costs by offering systems with less RAM, but consumers should ensure these systems are upgradable. The gaming industry is also affected, with custom gaming PC builders like GamerTech Toronto facing a fourfold increase in RAM costs. Experts suggest purchasing devices now before prices rise further, as the shortage could persist until 2027.