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Samsung has a plan for global chip shortage

SEOUL – Even the world’s biggest supplier of memory chips may be suffering the fallout from an ongoing global shortage of semiconductors.

On Wednesday, South Korea’s Samsung Electronics revealed at its annual general meeting that it may not roll out a previously planned flagship new phablet later this year due to chip shortages.

Wednesday’s meeting took place amid an unprecedented semiconductor drought that has hit the global auto industry and is now impacting consumer electronics. Companies in those sectors face potential multi-billion-dollar losses due to their inability to fulfill consumer demand.

All eyes are on the high-level meeting between Chinese and US semiconductor players in Alaska this week, a pow-wow many hope will provide new clarity on the Biden administration’s trade and technology policies towards China.