U.S. Markets close in 4 hrs 29 mins
  • S&P 500

    4,364.58
    +6.85 (+0.16%)
     
  • Dow 30

    34,016.65
    +46.18 (+0.14%)
     
  • Nasdaq

    14,773.15
    +59.25 (+0.40%)
     
  • Russell 2000

    2,183.65
    +1.44 (+0.07%)
     
  • Crude Oil

    70.00
    -0.29 (-0.41%)
     
  • Gold

    1,782.40
    +18.60 (+1.05%)
     
  • Silver

    22.53
    +0.37 (+1.68%)
     
  • EUR/USD

    1.1723
    -0.0004 (-0.0352%)
     
  • 10-Yr Bond

    1.3110
    +0.0020 (+0.15%)
     
  • Vix

    24.27
    -1.44 (-5.60%)
     
  • GBP/USD

    1.3642
    -0.0017 (-0.1255%)
     
  • USD/JPY

    109.2430
    -0.1770 (-0.1618%)
     
  • BTC-USD

    44,590.88
    -3,435.44 (-7.15%)
     
  • CMC Crypto 200

    1,070.04
    +6.20 (+0.58%)
     
  • FTSE 100

    6,971.63
    +67.72 (+0.98%)
     
  • Nikkei 225

    29,839.71
    -660.34 (-2.17%)
     

Telecom Italia sees first effects of chip shortage on equipment supply

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

MILAN (Reuters) - Telecom Italia is starting to see the first effects of the global chip shortage on its equipment supply, the head of Italy's biggest phone group said on Thursday.

The worldwide shift to remote working and learning during the pandemic had boosted demand for laptops and other gadgets, exacerbating a global chip shortage.

"We are marginally starting to see some shortage on chips around the market," Chief Executive Luigi Gubitosi told analysts in a conference call.

He added the company had bought in advance modems which will enable customers to watch the upcoming season of football matches under a deal with sport streaming service DAZN "to avoid a supply chain issue".

"The cost of chips is not a large component of our activity. I think that at some point it may affect some equipment suppliers and this in turn may affect the operators... it is something worth watching."

(Reporting by Elvira Pollina, writing by Maria Pia Quaglia, editing by Giulia Segreti and David Evans)