Apple’s largest supplier, Foxconn has claimed that the current shortages faced by the industry are now easing, as reported by Bloomberg. James Wu, a spokesman for Hon Hai Precision Industry Company, said this would reduce “overall supply constraints” for some components. This is a positive sign for all the manufacturers in the industry.

The shortage of chips worldwide has affected the production of many electronic devices and appliances other than Apple’s. The spokesperson for Hon Hai also added that power management chips are still scarce. Taiwan Semiconductor Manufacturing Company (TSMC) which buys almost $55 billion of chips annually, is trying to reduce the impact of supply-chain constraints.

Tim Cook visits FOXCONN factory on tour. Image: Tim Cook on Twitter

TSMC has also notified carmakers, including Ford and Toyota, that the chip crunch will remain throughout this year. The manufacturer added that there would be an increase in this year’s first-quarter revenue compared to last year. Manufacturers are piling up the stock of chips in fear of the Omicron variant and further uncertainties.

This comes as good news for the Cupertino-giant and other electronic companies as the shipments were decreased for the past two years, but prominent brands like Apple didn’t take much hit from this shortage.