ParkerVision Calls for New Policies To Bring Computer Chip Development Back to the United States
ParkerVision, Inc. (OTCQB:PRKR) emphasizes the need for aggressive policies to address the ongoing semiconductor chip shortage affecting various industries, particularly automotive and consumer electronics. The company highlights the shift of chip production from the US to Asia over the past two decades, exacerbated by the COVID pandemic. CEO Jeffrey Parker advocates for new incentives to revive US chip manufacturing and product design, which will boost American jobs. A study from the Georgetown CSET supports funding for US semiconductor factories and public-private partnerships for R&D.
- ParkerVision supports the CSET study advocating for financial incentives for US chip manufacturers.
- The company highlights potential job creation in the US through increased domestic chip production.
- The semiconductor chip shortage is causing significant delays in manufacturing for multiple industries.
- Reliance on Asian chip production has led to job losses in the US and hindered domestic innovation.
Aggressive policies may be the only way to solve the semiconductor chip shortage
JACKSONVILLE, FL / ACCESSWIRE / October 12, 2021 / ParkerVision, Inc. (OTCQB:PRKR), a leader in advanced technologies for wireless computer chips believes our current chip shortage, which has delayed the manufacture of automobiles and consumer electronics, can be solved with new policies that promote production of computer chips in the United States.
The United States led in semiconductor production for decades. Over the last 20 years, it has shifted to Asia where it is cheaper to produce the chips. That system worked until the COVID pandemic created lockdowns, factory closing and then supply chain delays. Now, there are chip shortages across the board for almost every type or product that uses one, especially wireless devices.
"It's important to note there is a tight relationship between product design, development and chip manufacturing, they go hand in hand and result in innovative products that are the next generation of what people want and need," said Jeffrey Parker, ParkerVision Chairman and CEO. "With chip production moving to Asia, product design is gravitating there as well, and we have lost jobs domestically because of it. When we stop designing and rely on others for manufacturing, we limit the possibility of what we can create domestically. We need new policies and incentives to bring product design and the manufacture of semiconductor chips back to the US. As a result, we can build products from American chips, reduce our reliance on Asian built chips and create US jobs at the same time."
A recent study from the Center for Security and Emerging Technology (CSET) at Georgetown University noted that advanced semiconductor chips underpin all important technology today. In fact, the industry now dwarfs the automotive industry. The study called upon the United States to provide financial incentives to chipmakers to help build leading-edge chip factories in the United States. ParkerVision supports that recommendation as well as the other points noted in the study which includes:
- Funding public-private partnerships to stimulate research and development in the semiconductor industry
- Reduce unnecessary trade barriers
- Challenge Chinese state subsidies for semiconductor production
Mr. Parker continued, "ParkerVision backs the recommendations in the CSET study. Getting our chip production back in the US is key to solving the chip shortage and protecting from it happening again in the future."
About ParkerVision
ParkerVision, Inc. (OTCQB:PRKR) invents, develops, and licenses cutting edge radio-frequency (RF) technologies that enable the leading wireless solution providers to make and sell the most advanced wireless communication products on the market. For more information, please visit www.parkervision.com
Safe Harbor Statement
This press release contains forward-looking information. Readers are cautioned not to place undue reliance on any such forward-looking statements, each of which speaks only as of the date made. Such statements are subject to certain risks and uncertainties which are disclosed in the Company's SEC reports, including the Form 10-K for the year ended December 31, 2020 and Forms 10-Q for the quarters ended March 31 and June 30, 2021. These risks and uncertainties could cause actual results to differ materially from those currently anticipated or projected.
Contact:
Tony Vignieri
Communications Director
tvignieri@parkervision.com
SOURCE: ParkerVision, Inc.
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