The global semiconductor shortage has affected a wide variety of industries. Now, sources say the chip shortage has affected the huge home appliance industry in China.
The Midea Group recently said that the Chinese home appliance sector is now suffering from a global shortage. The company added that chip shipments are “under pressure.” Currently, Midea has a market capitalization of about $ 91.7 billion, making it one of the world’s largest home appliance manufacturers. The company produces refrigerators, washing machines, air conditioners and other household appliances.
Midea said the chips used in home appliances are not as sophisticated as those used in PCs and smartphones, but the prices of these chips are rising due to global supply shortages. In addition, this supply chain disruption could also make it difficult to manufacture household appliances in China and have a negative impact on the global market for such products.
China currently produces two-thirds of the world’s air conditioners, televisions and microwave ovens, as well as about half of all refrigerators and washing machines.
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