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Foxconn expects component shortage to last till Q2 2022

By Cookie Monster - on 1 Apr 2021, 12:00am

Foxconn expects component shortage to last till Q2 2022

Image source: Reuters

Apple supplier Foxconn confirmed that the global chip shortage will be affecting the company's shipments.

Foxconn CEO Young Liu reportedly shared that the company will not be able to fulfil some orders due to the global chip storage. However, it will not be a big impact for Foxconn as Liu expects the company to only miss about 10% of its orders. Liu added that the global chip shortage is probably going to last until at least the second quarter of 2022.

Foxconn is not the only company affected by the global chip shortage. Qualcomm is reportedly struggling to meet demand for its processor chips, and Samsung is considering to skip the 2021 Galaxy Note due to a "serious imbalance" in semiconductors.

The global chip shortage came about a year after the Covid-19 pandemic forced many companies including Foxconn to close their factories. Foxconn only managed to resume normal operations by the end of March and this led to a delay in Apple's product launches.

Source: Nikkei Asia via The Verge

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