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“Given the current situation and some of the continuing challenges in areas like equipment for semiconductor manufacturing, I now believe it’s probably going to extend into 2024 until we start to see that balance start to be redeveloped,” Gelsinger said. “We expect to increase supply, because there is very strong demand in the market.”Īnd in March, Intel CEO Pat Gelsinger told Fox Business the shortage won’t abate until 2024, despite his prior prediction that it would end in 2023. “We expect consoles to grow this year,” said Su, whose company provides the chips for the PlayStation 5. That’s not to say the shortage will end this year. In February, AMD CEO Lisa Su told Yahoo Finance that supplies will remain tight in the first half of 2022 before improving in the second half of the year. But now it's clear that chip makers will have to contend with elevated demand and tight supplies for years. Industry experts initially thought the shortage would ease in the second half of 2022. Inside a GameStop store Sony PS5 gaming consoles are pictured in the Manhattan borough of New York City, New York, U.S., November 12, 2020. That, in turn, is sending prices of used cars higher as consumers seek out cars and trucks with all the features they want. Heck, automakers are still dealing with the fallout, stripping features from new trucks and SUVs to get them onto the showroom floors. It didn’t help that the automotive industry initially cut orders for chips thinking people wouldn’t buy many cars and trucks during the pandemic, only to have to reinstate their orders as consumers bought up vehicles in droves. The massive number of people seeking everything from laptops and headsets to displays and game consoles put extreme pressure on global chipmakers. The global chip shortage started when consumers around the world were forced indoors at the onset of the pandemic in 2020. And based on Sony’s decision to cut its PS5 shipments forecast by some 3.3 million units in fiscal year 2022, it’s not going to get easier to snag a console soon. The reason? The ongoing chip shortage - yep, that’s still a major issue - and shipping delays across the global supply chain. It doesn’t help that you frequently have to sign up for services like Walmart ( WMT) Plus or Amazon ( AMZN) Prime to even have a chance at buying the system.Īs the resident tech expert, my friends and family regularly hit me up about when they’ll be able to get their grubby mitts on a PS5, and I’m getting tired of figuring out different ways of telling them the same thing: I’m not sure. When it is available, stock sells out in what feels like an instant. The console, which launched in November 2020, is one of the most sought after consumer tech products on the market. And it’s not getting easier anytime soon. Wednesday, ApBuying a PS5 isn't getting any easierįor more than a year, finding and successfully buying one of Sony’s ( SONY) PlayStation 5 consoles has been nearly impossible for millions of gamers around the world.

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