As iPhone 8 launch looms, firms scramble to lock up memory chip supply

Seoul

GLOBAL electronics makers are scrambling to stock up on memory chips to keep production lines running as Apple Inc's new iPhone 8 launch later this year threatens to worsen a global squeeze on supply.

While heavyweights such as Apple and Samsung Electronics - which is also the world's top memory chipmaker - will not be seriously hit, industry sources and analysts say some electronics makers are paying a premium to lock into longer-term contracts. Others are placing orders earlier than before to ensure their perilously low inventories do not dry up completely.