Chip Crunch May Last a Year Amid ‘Perfect Storm,’ IMI CEO Says
- Demand is robust, while capacity upgrades take time: Tan
- Electronics manufacturer says 2021 orders already topped 2020
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Chips are set to remain in short supply for at least a year as demand from carmakers and other manufacturers remains robust, and ramping up production capacity takes time, said the head of Southeast Asia’s Integrated Micro-Electronics Inc.
The maker of electronic components, a unit of Philippine conglomerate Ayala Corp., has already topped 2020 in order bookings this year as economies reopen, said Arthur Tan, IMI’s chief executive officer. With more than 20 facilities in 10 countries, the company is the sixth-largest provider of electronics manufacturing services to carmakers, he said. The vehicle products it assembles include power modules, cameras and inverters.