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Chip Shortage Now Expected to Last Until 2024, Says Intel CEO

Chip Shortage Now Expected to Last Until 2024, Says Intel CEO

by Ali Mahmud

If you haven’t been keeping up with our PS5 stock updates, now is a great time to do so because Intel CEO has delivered some bad news: chip shortage is now expected to last until at least 2024. As reported by CNBC, Pat Gelsinger said during an interview with TechCheck that the pandemic’s ripple effect has also impacted the ability to expand manufacturing capacity in factories to meet demand, which is already exasperated by a backlog.

PS5 stock shortage was previously expected to last until 2024

ps5 restock april 26

Sony has made no secret of the fact that it’s struggling with PS5 supply and has repeatedly warned investors that PS5 sales are falling below PS4 sales in a comparable time period during the consoles’ lifecycles. We’ve seen the shortage estimates get pushed multiple times over the past year but Gelsinger renewing the estimate from 2024 to 2024 signals a dire situation. According to him, the chip manufacturing capacity is “part of the reason that we believe the overall semiconductor shortage will now drift into 2024, from our earlier estimates in 2024, just because the shortages have now hit equipment and some of those factory ramps will be more challenged.”

It’s unclear if Sony has any mitigation strategies in place. Microsoft seems to have improved its Xbox Series X supply situation and with Xbox Series S to fall back on, the company has seen a huge improvement in sales as well as an increase in the global console market share over the last two quarters. In fact in the first quarter of 2024, Xbox Series X/S beat PS5 to become the current-gen market leader in multiple regions outside its home turf of the United States, including the United Kingdom, Western Europe, and Canada.

In other news, speculation suggests that Sony acquiring Square Enix is still a possibility, The Last of Us 2 datamine has revealed a playable Jackson dance scene.

[Source: CNBC]

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