When COVID-19 hit the world, nobody knew a crisis like global chip shortage would emerge and continue this long. Pretty much every tech company is facing production difficulties because of the chip shortage, and what’s worse is that the crisis may continue until the second half of 2022, according to iPhone maker Foxconn.

During a conference call, Liu Young-way, Chairman of Foxconn, said that it’s cautious about its revenue outlook because of uncertainties surrounding the coronavirus pandemic, inflation, geopolitical tensions, and supply chains(via Reuters). The company expects the overall fourth-quarter revenue to fall between 3% and 15%.

Last month, Intel CEO Pat Gelsinger also warned that the shortages may last until 2023.

The global chip shortage has hit the smartphone industry hard. One of the reasons why Samsung had to delay the launch of the Galaxy S21 FE was the chip crisis. It also impacted the production of the iPhone 13 as well as other Apple products. To mitigate the impact on the global chip shortage on the iPhone 13 production, the Cupertino tech giant has reportedly allocated some iPad components for use in its latest iPhone models.

Meanwhile, the Biden administration has discouraged Intel’s plan to increase chip production in China due to security concerns. Another reason behind the move could be that the US government wants manufacturers to make essential components in the country(via The Verge).