Not only the automotive industry! Chips are out of stock, paint, glass are affected: 3M, Corning performance declined

Semiconductor industry capacity tension, out of stock price increase and other issues have lasted for more than a year, the current point of view of this year to solve the hopeless, 2022 to restore the balance of supply and demand is also difficult to say, there are semiconductor foundries predict that 2023 is likely to ease, the future lack of core will be long-term.

Without chips, the affected industries are not only electronic products, automobiles, etc., but also many industries that have been indirectly affected, 3M companies that do chemicals and coatings, and Corning companies that do glass also said in the report that the lack of cores affected their performance.

Multinational integrated manufacturing company 3M reportedly recently said that chip shortages have spread to its broad customer base, including those of car and smartphone makers.

3M's business includes the production of grinding wheels for grinding metals and thin films for increasing the brightness of electronic displays.

"These areas are all key markets for us," said Mike Roman, CEO of 3M, "and we have noticed a shortage of semiconductors. ”

Corning, a global leader in specialty glass and ceramic materials, said the semiconductor shortage had cost the company about $40 million in sales in the latest quarter as car production from its main customers plummeted.

The company said TV sales fell about 10 percent year-over-year, resulting in a decrease in revenue. Commenting on the impact on automotive production, Corning Chief Financial Officer Tony Tripeny said, "The decline in production began to affect us in the third fiscal quarter, and we expect the fourth fiscal quarter to continue." ”

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