PS5 and Xbox Series X chip shortage could last until 2023

Global console shortages could last until 2023 according to manufacturer Toshiba.

The release of both the PlayStation 5 and Xbox Series X|S have been hampered by a widespread lack of components, including the important regulating chips.

The problem has affected multiple industries, with companies like Toyota having to cut back on production due to a lack of semiconductors.

Toshiba boss Takeshi Kamebuchi has confirmed that the shortage will last until next September at the earliest and could even go into 2023 as customer demand vastly outstrips manufacturing capability.