Micron Technology CEO says global semiconductor industry is investing in more production capacity

Semiconductors were the hot-button topic through 2021, with the global chip shortage affecting the production of everything from smartphones to electronics and especially automobiles. Sanjay Mehrotra, President & CEO of US-based semiconductor company Micron Technology Inc, sees the situation improving through 2022, but expects the shortage to continue into 2023.

“Through the calendar year 2022, we see the situation improving and expect that some of the shortage will probably still continue into calendar year 2023," Mehrotra told CNBC-TV18's Shereen Bhan on the sidelines of the World Economic Forum's annual summit in Davos on Wednesday.

He said the entire the whole semiconductor industry is definitely investing a lot in terms of increasing production capacity, as well as accelerating technology transitions. “If you look at number of components that had been in shortage over the course of last year, it has improved. However, some critical shortages still remain in the semiconductor industry," he said.