Scavenging New Washing Machines for Chips

How tight is the chip shortage?…

(Bloomberg) – A major industrial conglomerate has resorted to buying washing machines and tearing out the semiconductors inside for use in its own chip modules, according to the CEO of a company central to the chipmaking supply chain.

ASML Holding NV Chief Executive Officer Peter Wennink remarked on the situation, without naming the conglomerate, during his company’s earnings call Wednesday. The beleaguered firm relayed its struggle to him only the prior week, he said, signaling that chip shortages are going to persist for the foreseeable future, at least for some sectors.

“The demand we are currently seeing comes from so many places in the industry,” Wennink said, pointing to the wider adoption of Internet of Things applications. “It’s so widespread. We have significantly underestimated the width of the demand. That, I don’t think, is going to go away.”

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