GAMERS hunting for a PlayStation 5 are in for some bad news as Intel CEO warns that console shortages could last until 2023.
And it’s going to stay that way for a while, Intel CEO Pat Gelsinger said at a recent news conference during a trip to Malaysia (via Nikkei Asia).
“The overall semiconductor shortage is quite significant and the semiconductor industry was growing about 5% per year before COVID.
“COVID disrupted the supply chains, causing it to go negative,” he explained.
“Demand exploded to 20% year-over-year and disrupted supply chains created a very large gap…and that exploding demand has persisted,” Gelsinger added.
Things haven’t been made much easier by scalpers taking advantage of the situation to hoover up stock and drive up prices by reselling the PS5 and Xbox Series X at extortionate prices.
Making up for the deficit is going to take time, and while we’ve previously heard reports that shortages would persist until 2022, the situation is a bit more dire than that.
“It just takes time to build this capacity to respond to the spike [in demand]” said Gelsinger.
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He predicts that the efforts to catch up production with demand will take around three years, which puts us at 2023.
The global semi conductor shortage paired with the increased demand has created a nightmare of a situation for manufacturers.
And it’s not just consoles — the chip shortage has affected the auto industry, as well as graphics cards and gaming PCs.
To increase your chances of getting a PS5 or Xbox Series X, we recommend following stock tracking accounts on social media, and signing up for retailer alerts.
Some US retailers are also offering premium membership tiers for first access to console restocks, so check those out too.
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