Semiconductor Shortage Is Slowing Down Global Manufacturing - Blo... https://www.bloomberg.com/news/articles/2021-02-05/chip-shortage-spir... Technology Chip Shortage Spirals Beyond Cars to Phones and Consoles By Debby Wu, Vlad Savov, and Takashi Mochizuki 5 de febrero de 2021 14:00 GMT-6 Updated on 7 de febrero de 2021 19:31 GMT-6 The dearth of supply is deepening as Apple, China hoard chips Worsening crunch could impact sectors well beyond automaking The first hints of trouble emerged in the spring of 2020. The world was in the early throes of a mysterious pandemic, which first obliterated demand then super-charged internet and mobile computing when economies regained their footing. That about-face -- in a span of months -- laid the seeds for potentially the most serious shortage in years of the semiconductors that lie at the heart of everything from smartphones to cars and TVs. Auto and electronics makers that cut back drastically in the early days of the outbreak are now rushing to re-up orders, only to get turned away because chipmakers are stretched to the max supplying smartphone giants like Apple Inc. This week, Qualcomm Inc.’s Cristiano Amon, head of the world’s largest mobile chipmaker, flagged shortages “across the board,” citing the industry’s reliance on just a handful of players in Asia. 1 de 5 5/03/2021 00:03 Semiconductor Shortage Is Slowing Down Global Manufacturing - Blo... https://www.bloomberg.com/news/articles/2021-02-05/chip-shortage-spir... Amon joined a growing chorus of industry leaders warning in recent weeks they can’t get enough chips to make their products. Carmakers appear in direst straits and have spurred the U.S. and German governments to come to their aid -- General Motors Co. this month was forced to mothball three North American plants and Ford Motor Co. is bracing for a 20% drop in near-term output. But more industries have lately copped to shortages, emphasizing how Covid-19 and a boom in a new breed of 5G-ready smartphones like the iPhone 12 is exacerbating a shortage of capacity plaguing the entire consumer industry. Chip shortages are expected to wipe out $61 billion of sales for automakers alone, but the hit to the much larger electronics industry -- while tough to quantify at this early stage -- could be far larger. Apple, a major Qualcomm customer, said recently that sales of some new high-end iPhones were hemmed in by a shortage of components. Europe’s NXP Semiconductors NV and Infineon Technologies AG -- whose roles near the top of the supply chain grant them visibility over global chip flows -- have both indicated the constraints are no longer confined to autos. And Sony Corp. said Wednesday it might be unable to fully sate demand for its new gaming console in 2021 because of production bottlenecks. “The virus pandemic, social distancing in factories, and soaring competition from tablets, laptops and electric cars are causing some of the toughest conditions for smartphone component supply in many years,” said Neil Mawston, an analyst with Strate�y Analytics. He estimates prices for key smartphone components including chipsets and displays have risen as much as 15% in the past three to six months. Read more: A Year of Poor Planning Led to Carmakers’ Massive Chip Shortage Crisis Mode The auto industry may lose $61 billion of 2021 sales from chip shortages 2 de 5 5/03/2021 00:03 Semiconductor Shortage Is Slowing Down Global Manufacturing - Blo... https://www.bloomberg.com/news/articles/2021-02-05/chip-shortage-spir... $30bln 20 10 0 North America Japan/S. Korea South Asia EU China Source: AlixPartners. Estimates based on current rate of volume losses. PC makers were among the first to hint, in the spring of 2020, at an impending crunch, a warning echoed by Lenovo Group Ltd. on Wednesday. At the heart of the crisis sits Taiwan and its largest company Taiwan Semiconductor Manufacturing Co., the chipmaker of choice to the world’s technolo�y and auto giants. It spent billions in past years ensuring it remains at the forefront of semiconductor production technolo�y -- a costly exercise that’s both paid off and also thrust it into the middle of a global geopolitical dogfight. On Friday, Qualcomm and Corning Inc. joined Biden administration officials to discuss the gathering storm with their Taiwanese counterparts and the island’s top industry representatives including TSMC. Both sides repeatedly stressed their interdependence, Taiwan’s Minister of Economic Affairs Wang Mei-Hua told reporters. The presence of several senior U.S. officials and the Semiconductor Industry Association -- which represents America’s biggest chipmakers -- emphasized the urgency of the situation. The current crisis stems from several factors that converged last year. Like most every chip designer on the planet, Qualcomm outsources production to Asian companies, foremost among which are TSMC and Samsung Electronics Co. The pair are increasingly the only recourse for producing the most advanced semiconductors. But their capacity takes years to plan and billions of dollars to build in tandem with customers, and the post-Covid 5G phone and internet boom took their clients by surprise. 3 de 5 5/03/2021 00:03 Semiconductor Shortage Is Slowing Down Global Manufacturing - Blo... https://www.bloomberg.com/news/articles/2021-02-05/chip-shortage-spir... Read more: The World Is Dangerously Dependent on Taiwan for Semiconductors Industry executives also blame excessive stockpiling, which began over the summer when Huawei Technologies Co. -- a major smartphone and networking gear maker -- began hoarding components to ensure its survival from crippling U.S. sanctions. Led by Huawei, Chinese imports of chips of all kinds climbed to almost $380 billion in 2020 -- making up almost a fifth of the country’s overall imports for the year. Rivals including Apple, worried about their own caches, responded in kind. At the same time, the stay-at-home era spurred sales of home appliances from the costliest TVs to the lowliest air purifiers, all of which now come with smart, customized chips. TSMC executives said on its two most recent earnings calls that customers have been accumulating more inventory than normal to hedge against uncertainties, a maneuver they see persisting for some time. “There’s a chip stockpiling arms race,” said Will Bright, co-founder and chief product officer at Drop, which uses custom chips in headphones and keyboards. Rising Imports of Chips China imported almost $300 billion in chips in 2020 from the top 7 sources Source: China's General Administration of Customs Shows direct Chinese imports of items under the 8541 & 8542 commodity codes. 4 de 5 5/03/2021 00:03 Semiconductor Shortage Is Slowing Down Global Manufacturing - Blo... https://www.bloomberg.com/news/articles/2021-02-05/chip-shortage-spir... All that has dried up the spigot for smaller-volume buyers such as the makers of cars and gaming consoles: Nintendo Co., Sony and Microsoft Corp. have struggled to make enough Switches, PlayStations and Xboxes for about a year. The game hardware industry is bracing for supply to get worse before it gets better in 2021, potentially even affecting the next holiday season, people familiar with the matter say. It didn’t help that automakers -- the most visible cohort to be affected -- misjudged the situation. Some industry observers blame their predicament on near-sighted planning and under-estimation of a post-Covid rebound in auto demand. Others argue chipmakers are prioritizing higher-volume and more lucrative consumer electronics such as smartphones. On Friday, Minebea Mitsumi Inc. -- a vital supplier to the transport and electronics industries -- suggested shortages may plague even more sectors, including aviation. “Demand is springing up everywhere at a faster-than-expected pace,” CEO Yoshihisa Kainuma told analysts on a call. “Airlines around the world are scrapping old aircraft to slim down their balance sheet. And people’s desire to travel will explode after the pandemic.” It’s anybody’s guess when production will catch up with demand. But a growing number of industry observers don’t see quick or simple resolution. “A lot of it can be traced back to the second quarter of last year, when the whole world basically shut down. Many auto companies shut down manufacturing and their suppliers re- prioritized,” said Mario Morales, an analyst with IDC. “Not until the second half will we see relief for some of these markets.” — With assistance by Ian King, James Mayger, and Molly Dai (Updates with chart after eighth paragraph) Terms of Service Trademarks Privacy Policy ©2021 Bloomberg L.P. All Rights Reserved Careers Made in NYC Advertise Ad Choices Contact Us Help 5 de 5 5/03/2021 00:03
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