Chip shortage to run into 2022, says Apple supplier FoxConn

Year-long problem, initially due to sky-rocketing demand for smartphones and personal gadgets during the pandemic, has spilled into the auto industry

Foxconn, the world's largest contract electronics maker, says the global chip shortage will continue into the second half of 2022.

Apple supplier Foxconn has forecast that the global chip shortage would run into the second half of 2022 and its fourth-quarter revenue for electronics, including smartphones, would fall more than 15%.

Chairman Liu Young-way said that Foxconn was cautious about its 2022 revenue outlook, citing uncertainties surrounding the coronavirus pandemic, inflation, geopolitical tensions, and supply chains.