Letters: When the chips are up
[Re: Samsung estimates 52 per cent profit boost as demand for chips rockets, January 7]
Last week, Samsung reported a 52 per cent increase in profits for the end of 2021. The tech giant estimated that it made 13.8tn won (£8.5bn) in the period, thanks to strong demand for server memory chips and higher profit margins.
This doesn’t come as much of a surprise – the world’s biggest chip manufacturer seems to be one of the few victors of the global chip shortage that is wreaking havoc on both the tech industry and world economies.
The automotive industry has been particularly hard hit, but this crisis goes beyond any one sector.
Computer chips are like the brains of the products we use every day.
They are in everything from the refrigerators in our kitchens, to the smartphones in our pockets and the cars we drive. They are fundamental to our modern, technology driven lives.
Many people will undoubtedly be experiencing the impact of the shortage without even realising – with prices of second-hand cars skyrocketing, and gaming devices like Xboxes being all but impossible to find.
Let’s be clear – there is no overnight solution to this, and it’s so crucial that the semiconductor industry reacts in the right way.
Given the impact this is having on British businesses and consumers, we need to ensure that there is a considered approach to chip design and manufacturing in the years ahead.
Russ Shaw