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Synopsis
Demand for semiconductors was boosted in 2020 as consumers scooped up home gadgets during the pandemic. But meeting that increase has been hard, thanks to shuttered plants, among other factors.
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The supply constraints are hitting a wide array of industries, with tech firms and automakers alike flagging production cuts and lost revenue from the fallout.
The global semiconductor shortage roiling a wide range of industries likely won’t be resolved for a few more years, according to Intel Corp.’s new Chief Executive Officer Pat Gelsinger.
The company is reworking some of its factories to increase production and address the chip shortage in the auto industry, he said in an interview with CBS News, based on snippets from its “60 Minutes” program. It may take at least several months for the strain on supply to even begin easing, he added.
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The global semiconductor shortage roiling a wide range of industries likely won’t be resolved for a few more years, according to Intel Corp.’s new CEO Pat Gelsinger.
The company is reworking some of its factories to increase production and address the chip shortage in the auto industry, he said in an interview with CBS News, based on a transcript of “60 Minutes” that aired Sunday. It may take at least several months for the strain on supply to even begin easing, he added.
“We have a couple of years until we catch up to this surging demand across every aspect of the business,” Gelsinger said.
Intel CEO says chip shortage will persist for couple of years autonews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from autonews.com Daily Mail and Mail on Sunday newspapers.
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