The global semiconductor shortage roiling a wide range of industries likely won’t be resolved for a few more years, according to Intel Corp.’s new CEO Pat Gelsinger.
The company is reworking some of its factories to increase production and address the chip shortage in the auto industry, he said in an interview with CBS News, based on a transcript of “60 Minutes” that aired Sunday. It may take at least several months for the strain on supply to even begin easing, he added.
“We have a couple of years until we catch up to this surging demand across every aspect of the business,” Gelsinger said.
“COVID showed that the global supply chain of chips is fragile and unable to react quickly to changes in demand.”
Demand for semiconductors was boosted in 2020 as consumers scooped up home gadgets during the pandemic. But meeting that increase has been hard, thanks to shuttered plants, among other factors. Companies worldwide say they expect supply-chain constraints due to logistics backlogs and the chip shortage to continue for much of 2021.