Micron stock falls after Chinese court bans sale of its memory chips

Micron Stock Drops On China Court Ruling To Ban Its Memory Chips

A Chinese court temporarily banned Micron Technology chip sales, cutting the USA company off from the world's largest semiconductor market, Taiwanese rival United Microelectronics Corp said.

The Fuzhou Intermediate People's Court issued a preliminary sales injunction against Micron that prevents it from selling the chips, including DRAM chips and NAND flash memory chips, in China, UMC said in a statement late on Tuesday.

A spokesman for Micron, which is based in Idaho, said Wednesday that the company hasn't yet received the court order and won't comment until it does. It said the United States company's products infringed on three of its patents related to DDR4, SSDs, and graphic card memory.

MU, -1.24% shares fell Tuesday following a report that a Chinese court blocked the sale of memory products from the chipmaker in China.

The dispute follows a ban on USA firms supplying parts to China's telecom equipment maker ZTE as well as the drawn-out wait for Chinese regulators to approve Qualcomm Inc's $44 billion takeover of NXP Semiconductors.

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Customers can buy Micron products from original equipment manufacturers, retailers, distributors, or get them directly from the company.

Micron said it expects quarterly revenue to be within the previously guided range of $8.0 billion to $8.4 billion.

The US memory chip maker, along with South Korean rivals, SK Hynix, Inc. and Samsung Electronics Co. dominate the Chinese chip market.

Back in December 2017, Micron filed a civil lawsuit in California, accusing UMC and its Chinese partner Fujian Jinhua Integrated Circuit of stealing design and manufacturing technologies related to its DRAM chips.

Micron has also been looked at as a pawn in the escalating trade war pitting Washington against China. 'UMC is pleased with today's decision, ' crows Jason Wang, co-president of UMC.

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"I think that China is using this case as a payback against the US", said Ho in an interview with the Taiwan branch of New York-based broadcaster New Tang Dynasty Television.

China is the largest importer of memory products, consuming 20 percent of the world's DRAM, as it has yet to build up its nascent chip industry. Taiwanese rival United Microelectronic Corporation (UMC) released a statement yesterday revealing the news, which saw shares in the American firm fall by as much as 8 percent.

The Micron ban could be a major opportunity for other global chipmakers to step in.

The judgment issued on July 3rd not only banned the sales of some Micron-branded and Crucial-branded products in China, but also ordered Micron's IC assembly/testing plant in Xi'an to halt operation; Micron Technology (Shanghai) Co., Ltd. has also been ordered to cease sales.

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