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Global chip shortage to resolve next year, production will be robust: Elon Musk
Recently, it is reported that Tesla CEO Elon Musk said, the ongoing semiconductor crisis is expected to end next year. Musk believes that the shortage of chips is a short-term problem, not a long-term problem.
Musk did not specify which chip factories are under construction. Although Intel and TSMC have announced plans to build new factories in the United States, they are not expected to go online in a few years.
Elon said: “There are many chip manufacturing plants under construction. I think that by next year, chip production capacity will be greatly increased.”
In the same case, consulting firm Forrester VP Glenn O’Donnell believes that the chip shortage may continue until 2023. Back in April, he said “Due to high demand, supply will still be restricted. We expect this shortage will continue until 2023.”
The global chip shortage has had a major impact on many industries, and the automotive industry has been hit particularly hard. Well-known automakers such as Ford, Volkswagen, and Daimler have all been forced to partially stop production due to a lack of chips and cut manufacturing targets.
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In August of this year, Musk also accused Renesas and Bosch, saying that as the world’s two largest automotive chip suppliers, these two companies have curbed Tesla’s car production. Consulting firm AlixPartners predicted earlier this week that the shortage of chips will cost the auto industry $210 billion in revenue this year alone.
Samsung ranked first in market share in the global smartphone market in Q3, 2023. TrendForce report says that Samsung led the global Q3 smartphone market, recording a market share of 19.5%.
Overall production in the third quarter increased by 11.5% compared to the previous quarter to 60.1 million units. During the same period, Apple’s production increased by 17.9% to 49.5 million, thanks to iPhone 15.
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Third place was taken by Xiaomi (13.9%), followed by Oppo (12.6%) and Transion (8.6%). 6th place is Vivo (8%). Meanwhile, global smartphone production reached 308 million units, a 13% increase compared to the previous quarter and a 6.4% increase from the previous year.
Huawei’s re-entry into the flagship smartphone market targeting Apple has had a significant impact in China. Huawei is aiming to expand its high-end flagship series, focusing on the Chinese domestic market next year, so Apple “We plan to attack directly”.
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In Q3 2023, Samsung and Apple’s market share slightly declined, while an underdog Chinese phone brand appeared on the top 5 chart. In a recent development, Canalys published market research data for the third quarter, revealing Tanssion as the fifth best-seller globally.
According to the info, Samsung and Apple lead total sales with 20% and 17% market share, yet both have fallen from their 22% and 18% levels in 2022. However, Tanssion, the maker of Tecno, Itel, and Infinix phones, climbed from 6% global market share last year to 9% in 2023, a 50% jump.
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Apart from this, Xiaomi matched last year’s share only by “recovering” from a terrible first half of 2023. At the same time, OPPO has fallen steadily over the past two years, while fellow BBK brand vivo lost the top-5 slot it’s owned for years.
Overall, the global smartphone market underwent a slight drop of 1% in Q3 2023. Bolstered by regional recoveries and new product upgrade demand, the smartphone market recorded a double-digit sequential growth in Q3, ahead of the sales seasons.
Recently, research agency Counterpoint Research published their latest analysis. The report reveals that Samsung continued its leadership in the third quarter of 2023, while Apple remained in the second spot. However, both OEMs faced a decline of 1 percent year over year.
According to CR, slower consumer demand is the main factor in the dwindling sales. The market did see a slight 2 percent growth in Q3 compared to Q2, likely driven by last month’s iPhone 15 series launch. Samsung secured 20 percent market share, while Apple grabbed 16 percent sales.
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The Galaxy A-series was the key driver for the South Korean smartphone maker. Apple came in second with 16 percent of the market while Xiaomi rounded out the top three with its 12 percent share. Oppo (10 percent) and vivo (8 percent) were the remaining brands in the top five charts.
The newly released iPhone 15 series will help Apple score a lead over Samsung in the fourth quarter of the year. The results will arrive by early next year, and it’s expected that the US phone maker could surpass Samsung. Major camera upgrades and USB-C helped Apple register strong sales.