CNBC reports that Nokia President and CEO Pekka Lundmark told that the ongoing global chip shortage needs to be closely monitored and supply chain visibility isn’t as good as it used to be.

Lundmark told that the chip market is “tight” at the moment.

“It’s not only telecoms. It’s automotive, it’s consumer gadgets, it’s the emerging IOT (internet of things) devices,” he said. “The whole semiconductor industry is actually very busy finding ways to increase capacity.”

The chip shortage has hit the cost-conscious automotive industry particularly hard as it uses chips in everything from power steering and brake sensors, to entertainment systems and parking cameras. The smarter cars get, the more chips they use.

Several manufacturers including GM, Honda, and Ford have been forced to cut production.

Lundmark added that the medium to long-term visibility on chip supply is not as good as it used to be.