BUSINESS

Global Chip Shortage Puts Semiconductor Makers In A Spot Of Bother

The US Department of Commerce has warned manufacturers have seen their stocks of semiconductors plunge amid the global chip shortage.

A survey of more than 150 firms found supplies had fallen from an average of 40 days’ worth in 2019 to just five days in late 2021.

Sales of devices soared during the pandemic, leaving semiconductor makers struggling to keep up with demand.

The shortage has resulted in huge disruptions for major industries.

Millions of products – cars, washing machines, smartphones, and more – rely on these chips.

The research also found that demand for semiconductors was as much as 17% higher last year than it was in 2019.

Readers Bureau

Edited by Jesus Chan

Do you want to add feedback to this story? Please add a comment in the box below or send an email to info@thereadersbureau.com,  Call us at 201-500-7715