Nokia CEO says ‘Fight’ to Win Chip Supplies could drag on till 2023

The global supply crunch of semiconductors that has steamrolled automakers, data center owners, and electronics manufacturers by making them cut production and revenues, has turned into a “fight” that risks dragging on until 2023, according to the Chief Executive Officer of Nokia Oyj.

“There’s a fight going on. The shortage in general in the market could continue a year or even two,” Nokia CEO, Pekka Lundmark, said in an interview on Thursday, according to Bloomberg. “This is not going to go away anytime soon.”

“It would be naive for anyone to say that this would not be a serious shortage.”

With every company that uses chips in production panic buying to shore up stocks, the shortage has squeezed capacity and driven up prices.

Nokia and Ericsson AB, the network equipment makers, are usually some of the biggest consumers of semiconductors and the shortages caused by the supply crunch have stirred concern of a delay to their multi-billion dollar rollout of fifth-generation mobile networks.

That would complicate Lundmark’s efforts to get Nokia back in the 5G game after an early stumble that handed an advantage to Ericsson.

relates to Nokia CEO Says ‘Fight’ for Semiconductors May Drag On Until 2023
Pekka Lundmark Source: Nokia Oyj

Companies from California-based Apple Inc. to South Korean tech giant Samsung Electronics Co. and Japanese automaker Honda Motor Co. have flagged the chip supply shortage. Nokia, which on Thursday posted better-than-expected quarterly results, is spending growing amounts of time trying to address the problem, though the impact on the company’s operations is “not material” for now, said Lundmark.

“You have to be in daily contact with your suppliers, make sure you are important to them,” he said later in an interview with Anna Edwards on Bloomberg TV. “It is things like how important you are in the big picture, how strong your relationships are, and how you manage expectations.”

Ericsson informed last week that the scant supply has not yet impacted deliveries to customers.

SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

More like this

Apple’s Custom C1 5G Modem: A Game-Changer in Power Efficiency with TSMC’s 4nm & 7nm Technology

Apple’s Custom C1 5G Modem: A Game-Changer in Power...

Apple has taken another significant step toward hardware independence with the launch of its first in-house 5G...

iPhone 16e vs OnePlus 13R: A Battle of Power...

The battle between Apple and OnePlus is about to unfold as Apple and OnePlus prepare their weapons...
Apple Ditches Broadcom: iPhone 17 to Feature Custom WiFi 7 Chip for Blazing-Fast Connectivity

Apple Ditches Broadcom: iPhone 17 to Feature Custom WiFi...

Apple is making another bold move towards self-reliance. Reports indicate that the iPhone 17 lineup will debut...
Apple's Spring 2025 Lineup: Exciting New Releases You Can't Miss

Apple’s Spring 2025 Lineup: Exciting New Releases You Can’t...

Apple has kicked off 2025 with a bang by unveiling the budget-friendly iPhone 16e, but that’s just...
MacBook Pro to Lead Apple's M5 Chip Revolution Before iPad Pro

MacBook Pro to Lead Apple’s M5 Chip Revolution Before...

Apple is once again reshaping the landscape of personal computing. According to Bloomberg’s Mark Gurman, the tech...

LATEST NEWS

WPL 2025: Delhi Capitals Women vs Gujarat Giants Women – Preview, Prediction and Where To Watch The Match LIVE

The 10th match of the WPL 2025 season will see Delhi Capitals take on Gujarat Giants on February 25, marking their first encounter of...

Champions Trophy 2025: Australia vs South Africa – Preview, Prediction and Where To Watch The Match LIVE

The Champions Trophy 2025 has captivated cricket fans with a series of thrilling encounters so far. Continuing the excitement, Match 7 promises a riveting...

WPL 2025: Ecclestone’s All-round Brilliance Stuns RCB and Chinnaswamy in Thrilling Super Over Victory For Warriorz

In a night filled with extraordinary drama at the WPL 2025, the UP Warriorz silenced a crowd of over 28,000 as RCB fell short...

Champions Trophy 2025: Ravindra, Latham, and Bracewell Secure New Zealand’s Place In The Semi-finals

While many teams are currently in transition, New Zealand have consistently demonstrated throughout this Champions Trophy that their new generation is ready for the...

Featured