Everything will become more expensive - The biggest shortage of chips ever has occurred!
To say that the pandemic did not affect all industries would be very incorrect, and given that more and more different industries depend on chips, a conclusion is automatically drawn.
Photo Credits: The Verge
To say that the pandemic did not affect all industries would be very incorrect, and given that more and more different industries depend on chips, a conclusion is automatically drawn. The shortage of chips affects phones, cars, manufacturing, home appliances, and literally almost every aspect of human lives. Believe it or not, the shortage of chips is currently the biggest and will probably make many things more expensive. Here's how long we'll have to wait for the chips.
Currently, the smartphone industry is deeply affected by the lack of chips, and only a few major players have secured chips with huge orders. This will destroy lesser competition that will only be able to recycle old parts for a limited time. By the way, the car industry is the most affected, and losses of 110 billion US dollars are expected throughout the entire industry this year alone.
According to a report by Susquehanna Financial Group, the global shortage of chips has now reached its peak. Even the biggest players have to wait an incredibly long time for new chips. Specifically, it takes 21 weeks from order to delivery which is the worst so far.
Analogously, there will be fewer and fewer stocks of products at retailers, which means that prices will rise as expected because the demand for electronics is not declining. Already on Xiaomi and Samsung products, it can be felt that some models were on the shelves only a few months before they completely disappeared, and both manufacturers make different versions of these phones to meet demand. Of course, these are the Galaxy A52 and Redmi Note 10 Pro phones.
By: Olivia J. - Zexron