PS5 and Xbox stock shortages to last ANOTHER year in blow to fans, claims Intel CEO

GAMERS hunting for a PlayStation 5 are in for some bad news as Intel CEO warns that console shortages could last until 2023.

Despite launching over one year ago, both the PS5 and Xbox Series X have been notoriously difficult to get hold of.

And it's going to stay that way for a while, Intel CEO Pat Gelsinger said at a recent news conference during a trip to Malaysia (via Nikkei Asia).

"The overall semiconductor shortage is quite significant and the semiconductor industry was growing about 5% per year before COVID.

"COVID disrupted the supply chains, causing it to go negative," he explained.

Which is why it's been so difficult to pick up Sony and Microsoft's new consoles, and why production of the Nintendo Switch is also feeling the effects.

"Demand exploded to 20% year-over-year and disrupted supply chains created a very large gap…and that exploding demand has persisted," Gelsinger added.

Things haven't been made much easier by scalpers taking advantage of the situation to hoover up stock and drive up prices by reselling the PS5 and Xbox Series X at extortionate prices.

Making up for the deficit is going to take time, and while we've previously heard reports that shortages would persist until 2022, the situation is a bit more dire than that.

"It just takes time to build this capacity to respond to the spike [in demand]" said Gelsinger.

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He predicts that the efforts to catch up production with demand will take around three years, which puts us at 2023.

The global semi conductor shortage paired with the increased demand has created a nightmare ofa situation for manufacturers.

And it's not just consoles — the chip shortage has affected the auto industry, as well as graphics cards and gaming PCs.

To increase your chances of getting a PS5 or Xbox Series X, we recommend following stock tracking accounts on social media, and signing up for retailer alerts.

Some US retailers are also offering premium membership tiers for first access to console restocks, so check those out too.

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