Chip Shortage Caused By Pandemic Will Make PS5 & Xbox Series X Hard To Buy Until 2023
Remember last holiday season when everyone said, "Just wait to buy an XBox Series X, they'll be back in stock soon." Well, those people were hilariously wrong. Those who spent maybe an extra $100-$200 dollars on a PS5 or XBox Series X last year were blessed compared to what the market looks like now. If you were in hope that things would get better soon, tough luck. It appears things will stay the same for another year or two at the least.
During a Q2 earnings call earlier this week, Intel CEO Pat Gelsinger said that because the pandemic made staying at home more worldwide, gaming has also taken a leap in demand. He believes the semiconductor supply chain will take a couple of years to catch up with demand. "While I expect the shortage to bottom out in the second half, it will take another one to two years before the industry is able to completely catch up with demand," Gelsinger stated. "With major fab construction projects underway in Oregon, Arizona, Ireland, and Israel, we are investing for the future, but we are also taking action today to find innovative ways to help mitigate industry constraints."
The semiconductor shortage has been the main reason why getting a Nintendo Switch, PS5, and XBox Series X|S has been near impossible for consumers. Nvidia also said the shortage will slow GPU production until the end of the year. It looks like it's going to be another rough Christmas for kids.