The whole mobile delivery supply chain has been hit by sharp fluctuations in supply and demand at various stages of the pipeline, ever since the start of the Covid-19 pandemic. These ructions were then aggravated by subsequent global geopolitical events, such as China’s disastrous zero Covid policy which was sustained too long, and the Ukraine war. There has also been the deepening rift between the Chinese and American axes, leaving few national 5G networks open to all potential equipment suppliers. On the face of it, the semiconductor supply chain has returned closer to normal faster than appeared likely at the height of the pandemic. But, this has been partly the result of declining demand both for smartphones and equipment for…