Amid the ongoing semiconductor shortage plaguing multiple industries worldwide, Cristiano Amon, the CEO of Qualcomm, has shared some information in a statement that comes as a ray of hope.

According to a report by TheElec, Cristiano Amon (Qualcomm’s CEO) said that the global chip shortage is easing, and the situation is expected to improve next year.

“Supply has improved this year over 2020 and the situation is expected to improve even more in 2022, especially compared to 2020,” said Amon in his statement to reports from South Korea.

This statement given on December 2nd comes in contrast with the statements issued earlier by Intel CEO Pat Gelsinger, who expects the global chip shortage to continue until 2023. At the same time, Arm CEO Simon Segars has warned that the situation is expected to get even worse than it is right now.

Due to chip shortages all across the board, smartphone brands have been unable to procure enough chips to put in their devices and meet market demand. But some chip manufacturers like MediaTek have seen a growth in their market share thanks to the demand and supply gap created by the shortage.

Earlier this week, Qualcomm unveiled its latest and greatest Snapdragon 8 Gen 1 SoC which is being made exclusively by Samsung Foundries using their 4-nanometer node. This partnership will be crucial for Qualcomm as the foundry’s yield rates will determine whether Qualcomm will meet the market demands in the upcoming year or keep losing ground to other chipmakers.

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