Global Chip Shortage Continue Into H1 2023

Share post:

The global chip shortage that has hampered production forecasts of big companies such as Apple and Volkswagen will continue into the first half of 2023, the head of STMicroelectronics said on Thursday.

“Things will improve in 2022 gradually, but we will return to a normal situation … not before the first half of 2023,” Jean-Marc Chery said in an interview.

The chip shortage, triggered by a boom in demand from a variety of technology sectors, is driving up prices, said Chery, who has been CEO of the Franco-Italian chipmaker since 2018.

The average price of STMicro’s chips has appreciated by 5% in 2021 compared to the previous year, he said, noting that the group expects further price increases in the second half of 2021 and 2022.

Last Thursday, STMicro raised its full-year sales and investment outlook as robust demand from car and phone makers boosted second-quarter profit.

For more information, read the original story in Reuters.

Featured Tech Jobs


Related articles

Google’s data centers consume 5.6 billion gallons of water

Google's water consumption has soared in recent years, with the company using 5.6 billion gallons of water in...

EU, U.S. agrees on new data privacy framework

The European Commission has adopted an agreement with the United States to reopen transatlantic data flows between the...

U.S. intel agencies buying Americans’ personal dates

According to a declassified report from the Office of the Director of National Intelligence (ODNI), U.S. intelligence services acquired...

PostgreSQL becomes the most popular database engine 

According to a new Stack Overflow study of 90,000 engineers, PostgreSQL has surpassed MySQL as the most popular...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways