Microchip Shortage Causes Production Problems, Price Increases

SUGAR LAND--April 12, 2021--Researched by Industrial Info Resources (Sugar Land, Texas)--As the ongoing shortage of microchips has deepened, the short-term effects have been widely noted-- namely, slowdowns in automotive production and consumer goods such as smart phones, laptop computers, video game consoles and other tech-laden devices, according to USA Today. This has of course led to price increases as well, following basic supply/demand economic rules. The major semiconductor producers were already in the process of expanding production to address trade imbalances and now also will meet the new situation in the world marketplace.