Stanislav Kogiku/SOPA Images/LightRocket via Getty ImagesThe chip shortage also has roots in the US-China trade-war, Bloomberg reports. Over the summer, Chinese consumer electronics firm Huawei began hoarding computer chips ahead of new regulations from the US. In 2020 alone, chips made up roughly one-fifth of China's overall imports.
But this behavior inspired a similar move by Apple, and the iPhone-maker began stockpiling chips of its own, according to Bloomberg.
Despite these maneuvers, the chip shortage is still beginning to affect smartphone production. Apple began facing a chip deficit last November and the issue could put iPhones in short supply going forward.