3/17/2021, 8:06 AM (Source: TeleTrader)
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Samsung sees 'serious imbalance' in chip supply

Samsung Electronics Co. head of mobile business unit Koh Dong-jin (pictured) stressed on Wednesday there is still a "serious imbalance" in the global semiconductor market as chip shortages, which continue to stifle carmakers' recovery from the crisis, could start affecting tech companies across the globe.

"There's a serious imbalance in supply and demand of chips in the IT sector globally. It is hard to say the shortage issue has been solved 100%," he noted at a shareholder meeting.

The executive also stated that Samsung's plant in Austin, Texas, remained closed due to chip shortage and the "process may require more time to reach normal levels as we inspect and reconfigure the facility."

Baha Breaking News (BBN) / GA