In recent times a number of reports have surfaced that has spoken about the shortage of semi-conductors. Even makers of PlayStation 5 have warned that they might not have ample supply of the console during the upcoming holiday season. US President Joe Biden has ordered for an investigation in to the current shortage of semiconductors. As per reports the shortage of the chips is due to a manufacturing issue that has put an impact on some of the new game consoles in the market.
It is due to the coronavirus pandemic that affected the production of the semi conductors and some of the other important parts which have in turn affected a number of industries across the United States. The shortage has forced a number of companies to cut down on production. The President has reportedly signed an executive order on February 24, 2021 which has ordered a 100 day review of the supply chains for four of the important products that include the semi-conductors.
Some of the other products which also come under the review process include rare earth minerals, large-capacity batteries for the electric vehicles. The order by Joe Biden will be investigating on the sectors of energy, transportation, telecommunication, food production, defense and public health. There are hopes that the improvement in the production of the semi-conductor chips would be beneficial for the production of the Xbox Series X/S and PS5. The president has also assured that it would make efforts towards investments for the efforts to solve the situation.
Mr. President assured that he is directing the senior officials from his administration to work closely with the industrial leaders who will be able to identify the problem of shortage of the chips. Joe Biden added that the Congress has authorized a bill but they will need $37 billion in order to have the capacity. Reports say that the current crisis has prevented the sales of the newly launched PlayStations and Xboxes.
Photo Credits: Market Watch
