When chips are down...

TECH firms are buying up new washing machines so they can harvest their computer modules in a desperate bid to beat the global microchip shortage.

Once solely used in PCs and phones, semiconductors are vital in cars, kitchen appliances and even some dog collars.

Microchip manufacturers cannot meet demand as it takes two years to build each factory.

Shortages have hit production at car giants such as Tesla and appliance firms such as Bosch.

Peter Wennink of Dutch chipmaking machine firm ASML said a major company told him it had resorted to buying washing machines and tearing out chips inside them. He did not name the firm, but it is thought to be linked to the car industry.