The ongoing global chip shortage needs to be closely monitored and supply chain visibility isn’t as good as it used to be, Nokia President and CEO Pekka Lundmark told CNBC.
Lundmark, who took the top job at Nokia in September, told CNBC’s “Squawk Box Europe” Friday that the chip market is “tight” at the moment.
“It’s not only telecoms. It’s automotive, it’s consumer gadgets, it’s the emerging IOT (internet of things) devices,” he said. “The whole semiconductor industry is actually very busy finding ways to increase capacity.”
Chips are used to power cars, phones, high performance computers, defense systems, AI applications and many other things.
The chip shortage has hit the…