According to the new CEO of Intel Corporation, Pat Gelsinger, the global semiconductor shortage which has affected a wide range of industries, is unlikely to be resolved within two years period.
In an interview with CBS News, he said, Intel is restarting some of his factories to increase production and to address the chip shortage in the auto industry. He added that it may take at least several months for supply pressures to begin to subside.
Semiconductor Chip demand increased massively in 2020 as consumers bought more home appliances and electronic gadgets during the pandemic. However, it was difficult to cope up with the increased demand for Chips. Companies around the world say they expect supply chain constraints to remain due to logistics companies lagging behind and chip shortages for much of 2021.
The supply constraint has affected a wide range of industries, with tech companies and automakers returning from a demand slump amid increasing production levels.
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