MONK9 TECH PRIVATE LIMITED

In their own words

The year 2020 was encumbered with Global Chip Shortage. Chip is basically used in and can be found in thousands of products such as computers, smartphones, appliances, gaming hardware, and medical equipment. Simply put, they are the prominent component that powers electronic items that exist in your surroundings. Problem of shortage of chip is still being continued as an ongoing crisis wherein the demand for integrated circuits (commonly known as semiconductor chips) is more than the supply of such semiconductor chips. The problem of shortage of chips affects more than 169 countries worldwide. Common cited causes for the shortage of semiconductor chips includes the following: 1. Covid - 19 Pandemic as it led to problems like shortage of money in the market affecting millions of people around the globe. 2. The China - United States Trade War which reshuffled trade flows across the world. 3. Various other weather incidents hampering the prosperity of Semiconductor Chip Business. This has actually led to problems like major increase in prices due to discrepancy between demand and supply, shortages and long list of waiting amongst consumers for automobiles, graphics cards, video game consoles, computers, and other products that require semiconductors leading to scarcity in semiconductor markets. Thus, we aim to enter into this field, to curb this problem.

Written by the company on its public Startup India profile. Not verified by us.