CITEA raises concerns over rising costs of RAM and tech components

The Cyprus Information Technology Enterprises Association (CITEA) held a meeting on Friday with the Deputy Minister of Research, Innovation and Digital Policy, Nikodimos Damianou, to address the sharp rise in prices for RAM and other critical technological components. According to CITEA, the market is facing instability due to the rapid growth of artificial intelligence, geopolitical shifts, and supply chain constraints. These rising costs are negatively impacting project planning, causing fears of delays or outright cancellations. Furthermore, local companies are becoming hesitant to participate in tenders due to increased financial risk. To mitigate these issues, CITEA has proposed several interventions to the Ministry. One key recommendation is the creation of a European Price Index for IT hardware to improve market transparency and predictability. The association intends to advance this proposal to European institutions through Digital Europe.