Micron losses hit $48.1m

Micron losses hit $48.1m
Tom Foremski
US DRAM maker Micron Technology reported a larger than expected loss yesterday after the close of US stock markets, of $48.1m on net sales of $755m for its second fiscal quarter, blaming price competition from overseas DRAM makers.
Micron has been fighting a losing battle in a race to move its DRAM manufacturing to more efficient production lines in a bid to lower manufacturing costs faster then market price declines.
The company said that its business might be helped by a recent ruling by the US Commerce Department which found that some Asian DRAM makers have been illegally dumping chips in US markets.
“We are hopeful that the US Department of Commerce will continue to monitor these ongoing trade violations and that Congress will view carefully the impact upon US businesses of any further International Monetary Fund support of these practices,” said Steve Appleton, Micron CEO.


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