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4/25, 2:12 AM (Source: TeleTrader)
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Cisco CEO predicts chip shortage to last six months

Chief executive officer of Cisco systems Chuck Robbins (pictured) predicted in an interview on Saturday that the global shortage of semiconductors may last six months in the short term, while the providers build more capacity.

"What happened is when COVID hit, everyone thought that the demand was going to decline significantly. [...] All of the manufacturers, like us and car manufacturers, said 'lower demand signals to the providers of semiconductors', they then reduced their capacity and at the same time the demand went up instead," Robbins told BBC.

Robbins also expressed his concerns that the situation has now been exacerbated, because customers for the semiconductors were afraid of placing multiple orders, due to the extremely high demand.

Breaking the News / LH