Meanwhile, Micron's ban could put pressure on Chinese companies and thus hike up the price on some domestic-made chips, said Wang Yanhui, secretary general of China Mobile Alliance, in an interview with Chinese business newspaper 21st-Century Business Herald.
Micron Technology (NASDAQ:MU) traded 3% higher on Thursday morning, bouncing back after China imposed an injunction on its chips earlier this week, which pushed shares lower.
China placed a temporary ban on chip sales from Micron's Chinese subsidiaries, blocking the $59 billion company from the largest semiconductor market in the world, after a Chinese court ruled in favor of United Microelectronics' and Fujian Jinhua Integrated Circuit's January complaint that Micron infringed on patents in China protecting memory storage and other products.
In December, Micron introduced a lawsuit in United States District Court for the Northern District of California that accused UMC of stealing trade secrets and giving the technology to Jinhua.
Micron said it had not been served with the injunction and would not comment further until it had reviewed documentation from the Chinese court, according to Reuters. Last year, more than half of Micron's sales came from the Chinese market.
Pakistan ex-PM Nawaz Sharif sentenced to 10 years in prison
According to him, the PML-N had awarded tickets to "political orphans", so he would contest elections as an independent candidate. His daughter Maryam Nawaz was given 7 years for abetment, and 1 year for non-cooperation with the anti-graft authority.
Analysts believe the ban is largely symbolic as hurting the USA chipmaker would end up creating more pain for local Chinese firms who would have to rely on Korean firms Samsung Electronics and SK Hynix, pushing up memory chip prices. Micron still has the right to appeal, and the follow-up of this case is bound to become the focus of the global memory industry amid the critical stage for the US-China trade war.
DRAM Prices Might Go Up Again As MIcron Plant Has Issues - 07/06/2017 08:16 AMOne out of the two Micron's DRAM plants is out of production after they had to close it down after a nitrogen gas dispensing system. The firm operates under four segments namely; Embedded Business Unit, Storage Business Unit, Mobile Business Unit, and Compute & Networking Business Unit.
Micron also offers NAND products that are electrically rewriteable; storage devices; non-volatile semiconductor memory; solid-state drives for workstations, desktops, and notebooks; enterprise solid-state drives for storage and server applications; and cloud solid-state drives.
Other chipmakers also gained. Additionally, the company makes other products which are old under other brand names. Intel Corp. fell 0.7%.
Micron Technology, Inc. was founded in 1978 by Joseph L. Parkinson, Dough Pitman, Dennis Wilson, and Ward D. Parkinson.