Experts are estimating the crisis will last till 2023.

There’s no denying that there is a global chip shortage. Last month, we reported how Japan had committed $5.2 billion (roughly 600 billion yen) toward providing support for semiconductor manufacturers in a bid to help solve the world’s ongoing chip shortage.

But is that enough? It seems not. During a recent earnings call, Micron CEO, Sanjay Mehrotra, told investors that it is clearly not.

“Across the PC industry, demand for DDR5 products is significantly exceeding supply due to non-memory component shortages impacting memory suppliers’ ability to build DDR5 modules. We expect these shortages to moderate through 2022, enabling bit shipments of DDR5 to grow to meaningful levels in the second half of calendar 2022,” said the CEO.

What does this mean for consumers? Cars are more expensive, computer makers are struggling to keep up with consumer demand, and many products have been severely delayed such as PlayStation 5 which is still impossible to order a year after its launch, according to Yahoo Finance.

Full Story: