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Global Chip Shortage To Continue To 2024?

The global chip shortage is likely to affect consumers for longer than expected, with Intel suggesting that the backlog could continue into 2024.

A number of console manufacturers are among the businesses affected by the chip shortage, with demand heavily exceeding supply over the last few years.

Intel CEO Pat Gelsinger has now revealed, according to Eurogamer, that "the shortage could continue due to constrained availability of key manufacturing tools."

Read: Cross-Play Finally Coming To FIFA

He told CNBC, "That's part of the reason that we believe the overall semiconductor shortage will now drift into 2024, from our earlier estimates in 2023, just because the shortages have now hit equipment and some of those factory ramps will be more challenged."

Originally, the shortage was expected to end in 2023, with Gelsinger previously saying that the "semiconductor shortage is quite significant and the semiconductor industry was growing about five percent per year before Covid.

"Covid disrupted the supply chains, causing it to go negative... Demand exploded to 20 percent year-over-year and disrupted supply chains created a very large gap... and that exploding demand has persisted."

Currently, the shortage has affected all three major home consoles as well as a number of PC Graphics Cards.

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