Amid the economic slump, another tech giant Intel is increasing its broad range of microprocessor prices due to the Economic crisis, which is affecting the supply chain of the global macro-economic environment.
According to Nikkei Asia, the company informed customers that it “will raise prices on most of its microprocessors and peripheral chip products later this year, citing rising costs”.
Intel still has to finalise price hikes which could take Intel’s flagship products such as central processing units for servers and computers into account, according to the report.
The hike will also affect products essentially required in making Wi-Fi and other connectivity options by Intel.
Intel CEO Pat Gelsinger said semiconductor shortage supply may remain the same until 2024. He further explained that the issue might drag on due to a lack of key manufacturing components.
“In the supply chain, lockdowns in Shanghai and the war in Ukraine have demonstrated more than ever that the world needs more resilient and more geographically balanced semiconductor manufacturing,” he said.
The chip shortage cost the US economy $240 billion last year.
“We expect the industry will continue to see challenges until at least 2024 in areas like foundry capacity and tool availability,” Gelsinger noted.
According to Counterpoint Research, Global semiconductor chip shortages are likely to continue easing during the second half of 2022 as demand-supply gaps decrease across most components.
(Inputs from IANS)