The chip shortage will continue until the second half of 2022, according to the South Korean tech major. According to an IANS report, the president of the company addressed the issue during a meeting with executives from over 30 component suppliers.
According to reports, the company is taking many steps to mitigate the shortage, one of which is to stock up four weeks' worth of chip supplies instead of two weeks. The firm is going to try to get annual contracts with chip foundries.
Due to the chip shortage, the launch of the S21 FE will be in January of 2022, pushing the launch of the S22 lineup to February.
The situation is expected to improve next year, according to the CEO.
In March, demand for its chips soared as phone makers sought to win over customers abandoning phones produced by Chinese companies due to US sanctions. The shortage of some subcomponents used in its chips made it hard to meet the higher-than- expected demand.
