After the Coronavirus Pandemic, the world economy including India slowed down. However, there is a lot of relief now and gradually the industry is catching up to the pre-corona pace.
Chip demand and supply affected
According to BBC News, a senior Samsung official said in a shareholders’ meeting that the demand and supply of chip has been affected in the IT sector around the world after the Corona epidemic. Samsung is working closely with its foreign partners to meet the chip demand. Still the issue is not resolved. Explain that with the rise of Corona epidemic, the decrease in semi-conductors started and there was a tremendous decline in sales.
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Due to Corona, car makers gave very few orders to Chinese chip making factories. Chip supplies from Chinese factories started in other sectors with high demand. In such a situation, when the demand for cars increased, the car makers could not restore their canceled orders. Because of this, companies like Honda, Toyota and General Motors had to cut their production.
According to a research by Counterpoint, the shortage of some products will persist for several months, which can continue till 2022.