Money

No end in sight for global chip shortage

Published

5 years ago

August 11, 2021

There seems to be no end in sight for the global chip shortage as wait times extend to as much as 20 weeks significantly delaying critical industries.

New research has found that the time between ordering a chip and receiving one has extended by more than 8 days when compared to last month the longest wait time since data began being tracked in 2017.

These delays are having a significant impact on many critical industries, including car manufacturers, industrial equipment and home electronics producers.

BMW faces chip shortage — The motor vehicle industry is feeling the greatest pinch from the shortage.

But it is the motor vehicle industry that is feeling the greatest pinch – which is expected to lose $100 billion in sales due to the inability to make cars.

Other tech giants like Apple, Microsoft and Samsung are also unable to keep up with consumer demand for their products.

It comes as the Biden administration moves to secure on-shore chip manufacturing plants in a bid to end this worldwide shortage.

Related Topics:Featured trending

Up Next

Are you ready for the iPhone 13 – Here’s what to expect:

Don't Miss

Etihad halves half-year loss to $400 million

William Howard

William is an Executive News Producer at TICKER NEWS, responsible for the production and direction of news bulletins. William is also the presenter of the hourly Weather + Climate segment. With qualifications in Journalism and Law (LLB), William previously worked at the Australian Broadcasting Corporation (ABC) before moving to TICKER NEWS. He was also an intern at the Seven Network's 'Sunrise'. A creative-minded individual, William has a passion for broadcast journalism and reporting on global politics and international affairs.

Click to comment