The global chip shortage requires to be monitored, says Nokia CEO

The ongoing global chip shortage needs to be closely monitored, Nokia President and CEO Pekka Lundmark told on Friday.

“It’s not only telecoms. It’s automotive, it’s consumer gadgets, it’s the emerging IoT (internet of things) devices,” he said.

Chips are used to power cars, phones, high-performance computers, defense systems, AI applications and many other things.

The chip shortage has hit the cost-conscious automotive industry. It uses chips in everything from power steering and brake sensors. The smarter cars get, the more chips they use.

Nokia itself, however, hasn’t been too badly affected. “We are not seeing any real shortage,” said Lundmark. “The situation is manageable, but this is a matter that requires constant attention.”

He added that the medium to long-term visibility of on-chip supply is not as good as it used to be.