By Emma Nitzsche 

The impact of high demand for electronic chips coupled with short supply has come for consumers.

The global chip shortage has finally caught up to the American public, and many consumers are noticing higher prices for everyday electronic devices such as smartphones, printers, and laptops.

Although the electronic industry felt the effects of the chip shortage earlier in the year, companies managed to keep prices stable. However, since more materials in the supply chain have increased in cost over the year, producers feel pressured to pass the burden onto the consumer.

Times-Taipei News reported that since the second quarter of 2021, “more than 30 semiconductor companies have issued price adjustment letters, with product price increases ranging from 10% to 30%.”

This year, HP Inc. raised its PC prices by 8% and printer prices by more than 20%, according to a report done by Bernstein Research. The cost of an HP Inc. Chromebook was $220 at the beginning of June, but now, customers are paying $250.

Televisions, laptops, tablets, and printers have been in high demand during and after the pandemic as more businesses encouraged employees to work from home. More than ever, people relied on their electronic devices to work, socialize, and binge Netflix in 2020. Unfortunately, the demand for quality electronic products remained consistent throughout the pandemic, and companies failed to keep up. As a result, supply shortages caused a decrease in production and a global semiconductor deficit.

According to U.S. government data, prices for computers and other electronics rose at a 2.5% annual rate and broadly jumped 5% in May, driven by a sharp rise in energy prices. Other gadgets, such as televisions, cost 30% more than before the pandemic.

In addition to the record number of laptops consumers demanded during the pandemic, the spread of superfast 5G mobile networks encouraged people to buy new smartphones that could take advantage of the speed boost. As a result, the best hardware on the market costs more than ever, with an average price increase of approximately $110 compared to last year.

Wang Xiang, President of the popular smartphone and electronic company Xiaomi, said that customers should expect higher electronic prices. However, he added that his company would “do our best to offer our customers the best price for our products.”