There are several factors contributing to the shortage, and reports are now coming out that it’s likely to extend well into 2023.
What does this mean for consumers?
We’re very likely going to be hit with inflated prices along with a short supply of everything from smartphones and tablets to laptops and desktop computers – and even automobiles.
So far there still seems to be plenty of these items on the store shelves, and their prices are still relatively stable.
However, I expect that to change quickly now that news of the impending shortage of products and higher prices for the products that will still be available is beginning to spread.
I did a quick check with the electronics retailers in my local area and found they still have plenty of devices in stock. And so does Amazon (#ad) if you prefer shopping online.
Just be aware that could change at any time.
As we all witnessed at the start of the Covid pandemic, word spread fast and panic buying quickly set in, reducing supplies and raising prices for months on end.
The same thing is likely to happen with the electronics market, only this round of shortages is expected to last a lot longer.
Bottom line: If you anticipate needing to purchase anything with a chip in it I recommend that you strongly consider making your purchase sooner rather than later.
If you wait too long you might end up having to wait until 2023 and/or pay through the nose once you’re able to find something to buy.
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