News Snapshot:
A global shortage in semiconductors, which has already disrupted manufacturing at carmakers like Tesla and production of Sony’s PlayStation 5 game consoles, has now spread to China’s vast home appliances sector, according to industry giant Midea Group. Manufacturers’ supply of chips is “under pressure in the home appliances industry”, said Midea in a statement to the South China Morning Post on Thursday. Midea, with a market cap of about 600 billion yuan (US$91.7 billion), is the world’s largest manufacturer of consumer appliances, including refrigerators, washing machines and air conditioners. Headquartered in Foshan, a city in southern Guangdong province, Midea said...
