The global chip scarcity has been simmering for over a year and shows no signs of abating. Individuals may be forced to spend more for their Christmas gifts as a result of this phenomena.

As technology has advanced, semiconductor chips have spread from computers and cars to toothbrushes and tumble dryers they now lurk beneath the hood of a surprising number of products.

But demand for chips is continuing to outstrip supply, and car makers are no longer the only companies feeling the pinch.

Samsung said last week that the chip shortage is hitting television and appliance production, while LG admitted the shortage is a risk.   

Also, Samsung's co-chief executive and mobile chief, Koh Dong-jin, said at a shareholder meeting in March that there is a major mismatch in chip supply and demand in the IT sector. At the time, Samsung hinted that the next Galaxy Note smartphone might not be released.

LG said it is “closely monitoring the situation as no manufacturer can be free of the problem if it gets prolonged,” according to The Financial Times.

TSMC, Samsung and Intel, the heavyweights of the semiconductor industry, aren’t focused on making these older, less advanced power management chips because they can make more by selling more innovative versions.

Semiconductor-rich products like computers, smartphones and games consoles are likely to be popular Christmas presents, but there are availability problems, according to Glenn O’Donnell, VP and research director at analyst firm Forrester.

Sony's PS5 and Microsoft's Xbox Series S, as well as Google's Pixel 6 Pro smartphone, are both widely unavailable.