The Chips Are Down - Global Semiconductor Shortage
Semiconductor chips enable electronic devices to process data. Millions of products, from cars and washing machines to smartphones & gaming consoles rely on these computer chips. Apple and Samsung have flagged production cuts and lost revenue. The auto industry, however, is the worst-hit. Maruti, Mahindra, Ford, BMW, Honda, Toyota, General Motors and Volkswagen have all hit a speed bump. Chip plants shut down or curbed production during pandemic. Stay-at-home orders led to a surge in consumer electronic sales and the chipmakers chose not to store chips, focussing on demand for computer & laptop chips instead. We decode the crisis, the possible solutions and what the global chip shortage means for consumers.
