Seoul, Dec 12 (IANS): Amid the global chip shortfall, the South Korean tech giant Samsung believes that the chip shortage will continue up until the second half of 2022.

The issue was discussed by TM Roh, the president of Samsung Mobile, during a meeting with senior executives and executives from over 30 of its major smartphone component suppliers, sources told TheElec.

As per report, Samsung is taking multiple steps to mitigate the shortages. The firm is going to push for annual contracts with chip foundries to secure the chip production capacity.

In addition, the company will now stock up to four weeks' worth of chip supplies instead of two weeks, as it apparently is doing right now.

The brand's Galaxy S21 FE has been delayed due to chip shortage and is now set to launch in January 2022, pushing the launch of the Galaxy S22 lineup to February.

Meanwhile, Qualcomm CEO Cristiano Amon said that the chip shortage is gradually easing and the situation is expected to improve next year.

Amon said that supply has improved this year over 2020 and the situation is expected to further improve in 2022.

Multiple smartphone makers could not procure enough processors from Qualcomm which affected their production.