STMicro CEO expects chip shortage won’t end before “first half of 2023”

You could be waiting awhile for a PS5

STMicroelectronics CEO Jean-Marc Chery has stated that he doesn’t expect chip shortages to resolve until “the first half of 2023”.

Speaking to Reuters, Jean-Marc Chery – CEO and President of STMicro – has shared that he thinks global chip shortages won’t end any time soon.

Though he expects “things will improve in 2022 gradually”, things won’t go entirely back to normal “before the first half of 2023.”

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Chery explains that unlike previous demand for computers, the current situation is fueled by “massive orders for components”, which is exacerbated by scalpers and cryptocurrency miners – the latter of which bought up around 700,000 graphics cards in the first quarter of 2021 alone.

The global chip shortage has caused knock-on shortages on a variety of products, most notably including graphics cards and next-gen Xbox Series X|S and PlayStation 5 consoles.

Xbox Series S
Xbox Series S. Credit: Microsoft

Chery’s interview rings similarly to last week’s comments from Sony Entertainment Interactive President and CEO Jim Ryan, who said Sony is still “some time from being able to meet all the demand that’s out there”.

Addressing the global chip shortages, Ryan adds that the situation is “a challenge that we are all navigating” as the shortages continue to affect many industries.

Earlier in the year, AMD CEO Lisa Su noted that chip supplies would remain “quite tight” throughout 2021, but was expecting the situation to improve in 2022. Similarly to Chery’s comments, Su expected gradual improvements with “more output every quarter for sure.”

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As shortages continue to affect graphics cards, GPU manufacturer Palit Microsystems has warned consumers not to risk the “lottery” of buying a second-hand graphics card from cryptocurrency miners, explaining that cards used to mine crypto lose ten per cent of their performance every year.

In other news, The Legend Of Zelda: Wind Waker has been remade in Unreal Engine.

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