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<\/p>\nMAY 7 2021<\/p>\n
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But demand for chips is continuing to outstrip supply, and car makers are no longer the only companies feeling the pinch.<\/p>\n
Alan Priestley, an analyst at Gartner, told CNBC that the average person on the street is bound to be impacted by the chip shortage in one form or another.<\/p>\n
\u201cWhat it will mean is they can\u2019t get something, or prices are slightly higher,\u201d Priestley said during an interview on Thursday.<\/li>\n
South Korean tech giant Samsung\u00a0said last week<\/a>\u00a0that the chip shortage is hitting television and appliance production, while LG admitted the shortage is a risk.<\/p>\n \u201cDue to the global semiconductor shortage, we are also experiencing some effects especially around certain set products and display production,\u201d said Ben Suh, head of Samsung\u2019s investor relations, on a call with analysts.<\/p>\n \u201cWe are discussing with retailers and major channels about supply plans so that we are able to allocate the components to the products that have more urgency or higher priority in terms of supply.\u201d<\/p>\n Samsung\u2019s co-chief executive and mobile chief, Koh Dong-jin,\u00a0said at a shareholder meeting in March<\/a>\u00a0that there\u2019s a serious imbalance in supply and demand of chips in the IT sector. At the time, the company said it might skip the launch of the next Galaxy Note smartphone.<\/p>\n LG said it is \u201cclosely monitoring the situation as no manufacturer can be free of the problem if it gets prolonged,\u201d according to The Financial Times. LG did not immediately respond to a CNBC request for comment.<\/p>\n<\/div>\n Production of low-margin processors, such as those used to weigh clothes in a washing machine or toast bread in a smart toaster, has\u00a0also been hit<\/a>. While most retailers are still able to get their hands on these products at the moment, they may face issues in the months ahead.<\/p>\n Even dog-washing businesses are suffering,\u00a0according to The Washington Post<\/a>. CCSI, which makes electronic dog-washing booths in the Illinois village of Garden Prairie, was recently told by its circuit board supplier that the usual chips weren\u2019t available, according to the report.<\/p>\n The business, which did not immediately respond to a CNBC request for comment, was reportedly offered a different chip, but that required the company to adjust its circuit boards, raising costs in the process.<\/p>\n \u201cThis particular problem affects all aspects of manufacturing, from little people to big conglomerates,\u201d President Russell Caldwell reportedly said. \u201cLiterally we have corn fields around us \u2026 there\u2019s not a lot here.\u201d<\/p>\n Many companies \u2014 particularly those in China who have been hit by sanctions \u2014 are boosting their stockpiles of in-demand chips to try to ride out the storm, but that\u2019s making chips even harder to get hold of for other firms.<\/p>\n<\/div>\n The automotive sector, which relies on chips for everything from the computer management of engines to driver assistance systems, is still the hardest hit. Companies like Ford, Volkswagen and Jaguar Land Rover have shut down factories, laid off workers and slashed vehicle production.<\/p>\n Stellantis, the world\u2019s fourth biggest car maker,\u00a0said on Wednesday<\/a>\u00a0that the chip shortage had gotten worse in the last quarter. Richard Palmer, the chief financial officer of the firm that was created through the merger of Fiat Chrysler and Peugeot maker PSA, warned the disruption could last into 2022.<\/p>\n<\/div>\n<\/div>\n<\/a>Everyday appliances at risk<\/h2>\n
\n<\/a>Auto industry remains worst hit<\/h2>\n
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