China’s cyberspace regulator said late on Sunday that Micron had failed its network security review and that it would block operators of key infrastructure from buying from the company
on Monday forecast a hit to revenue in the low-single to high-single digit percentage after a ban by China on sale of its memory chips to key domestic industries marked the latest in the Sino-American trade spat.
Micron Chief Financial Officer Mark Murphy said at a conference on Monday it was unclear what concerns Beijing had and direct and indirect sales to China-headquartered companies accounted for about a quarter of the chipmaker’s revenue. “We firmly oppose restrictions that have no basis in fact,” a spokesperson from the U.S. Commerce Department said on Sunday.
China launched the review in late March amid a dispute over chip technology and worsening relations between Washington and Beijing. While the Chinese statement and state media said the Micron decision needed to be seen as an individual case in the context of national security concerns, not geopolitics, prominent Chinese commentator Hu Xijin struck a different note.
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