- The White House urged South Korea not to fill a gap in the market in China in the event of a ban by Beijing Micron Technology, Inc mu from the sale of chips.
- The US has asked Seoul for assistance samsung electronics co ltd SSNLF And SK Hynix to refrain from boosting sales to China if it bans Micron from sales amid an ongoing investigation, according to the Financial Times reports.
- The US asked President Yoon Suk Yeol to travel to Washington on a state visit on Monday.
- Also read: Micron’s stable moat: Analysts see negligible impact from actions in China thanks to ties to US chipmakers
- In April, China launched a national security review of Micron, one of the three dominant players in the global dram memory chip market alongside Samsung and SK Hynix.
- Mainland China and Hong Kong generated 25% of Micron’s $30.8 billion revenue in 2022.
- Memory chip makers are already under pressure from an industry glut that triggered a 25% price drop in the first quarter of 2023 for dram chips, which power everything from TVs to phones.
- In December, the US suspended the Chinese memory chip maker Yangtze Memory Technologies Co on its “corporate list,” which blocks companies from exporting American technology to nascent Micron rivals without a hard-to-obtain license.
- Price promotion: MU shares traded 2.26% lower at $59.75 premarket on the latest check Monday.
- Photo by Body Stock and Dragon Claws via Shutterstock
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