So far the headlines have been about how the automotive sector has suffered the most this year but supply to the sector could improve relatively soon.

ING Greater China chief economist Iris Pang said that while Taiwanese semiconductor companies have boosted production in China as blackouts and ongoing COVID-19 social distancing measures disrupted factory output and port operations in Taiwan.

"China gained five percent on the chip shortage in terms of GDP - Taiwan semiconductor companies have planned well and built large factories in mainland China", Pang said, predicting that smartphone makers will be the next segment to face disruptions.

"Taiwanese semiconductor companies are tailoring making chips for autos, so the chip shortage should be solved for autos in a few weeks, but other electronics' chip shortage problem persists", Pang said, adding that could delay shipments of some new model smartphones.

Analysts warn that the supply crunch could extend well into 2022 and vendors were quoting lead times as long as 32 weeks for new chips and components.

Pang said even crypto miners are seeking ways to recycle "used" chips, which implies the shortage wasn't going away.