Display Market IC Shortage Update
Midas Displays would like to take this opportunity to remind customers of important information relating to a developing situation in the display market. Midas believe that this current situation will now affect lead times and pricing until 2023.
There is currently extremely high demand, and a severe shortage in ICs. The reasons for this are: high demand of ICs for the development of 5G network coverage, and high demand of displays and ICs for home-office and home-schooling equipment, together with the on-going COVID-19 challenges throughout the world. In addition to driver ICs and microcontrollers, TFT glass is used in mobile phones, laptops etc and there are limited manufacturers of this glass. Therefore, with this high demand, supplies to TFT manufacturers have been limited, leading to longer lead-times and inevitably higher prices.
Midas want to continue to keep our customers updated with the latest situation, so that they can prepare accordingly. This situation has developed over the past few months, and we expect to see this difficult situation to remain throughout 2021, 2022, and into 2023. Industry sources have suggested that the IC shortage is likely to persist for the next 2-3 years.
Midas continues to support our customers and will do all we can to mitigate any increases to cost, and lead times, wherever possible. However, we would like to take this opportunity to encourage customers to place orders at the earliest possible time. We thank you for your understand at this challenging time.