Qualcomm CEO Steve Mollenkopf said he is "seeing improvement" in efforts to ease chip shortages that have caused disruptions across several industries, and that demand for older chips is easier to respond to.
Demand has soared for chips in recent months, with panic buying further squeezing capacity and driving up costs of even the cheapest components of nearly all microchips.
"There's an ability for the market to respond more quickly to some of the older nodes than the newer nodes, so depending on the product, you may be in a position to get some improvement," Mollenkopf said, speaking via videolink at the China Development Forum in Beijing on Saturday.
Speaking in the same panel, president and CEO of Micron Technology Sanjay Mehrotra said the chipmaker would aim to increase its supply in line with the growing demand for the company's products.
In December, makers of cars and electronic devices from TVs to smartphones began sounding alarm bells about a global shortage of chips, which was causing manufacturing delays as consumer demand bounces back from the coronavirus crisis.