The global shortage of electronics components is worsening and is expected to last until next year, Apple supplier Foxconn has said, suggesting the shortfall squeezing global carmakers is starting to be felt by leading technology brands.
“In the first two months of the first quarter, the impact [of the shortage] was not so palpable, but we are gradually seeing that change,” Young Liu, Foxconn chair, told investors on an earnings call on Tuesday. He added that the shortage would persist until 2022, quoting research reports from analysts.
Foxconn, which is listed on the Taiwan Stock Exchange under the name Hon Hai Precision Industry, is the world’s largest contract electronics manufacturer. The fact that it assembles electronics gadgets and makes components for all of the leading tech brands globally makes it a bellwether for trends in consumer electronics manufacturing.