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szdaily -> World Economy -> 
Micron yet to get license to sell to Huawei
    2020-10-01  08:53    Shenzhen Daily

MICRON Technology Inc. has not yet obtained new licenses needed to sell its memory chips to China’s Huawei Technologies Co., which will cut its sales over the next two quarters, company executives said yesterday.

Boise, Idaho-based Micron, one of the world’s biggest makers of DRAM chips, said it had previously obtained licenses from the U.S. Government to sell chips for mobile phones and servers from its factories outside the United States to Huawei, which has been the target of U.S. restrictions on chip sales since last year.

Huawei accounted for about US$600 million of Micron’s US$6.06 billion in sales for the fiscal fourth quarter ended Sept. 3, or just under 10 percent.

But a new round of restrictions that took effect in September barred sales of any chip made using U.S. tools or software, which rendered Micron’s earlier licenses invalid and halted sales Sept. 14.

“The manufacturing equipment in those fabs are obviously from U.S.-based companies,” said Micron’s chief business officer, Sumit Sadana. These included Applied Materials Inc. and Lam Research Corp.

Sadana said Micron has applied to the U.S. Government for new licenses to sell to Huawei but does not yet have them and does not know if or when they will be approved. The company is shifting to selling to other smart phone customers but the shift will take until Micron’s fiscal second quarter to complete.

“As soon as we get the license, we would work with Huawei to determine how we can resurrect the business,” Sadana said.

Revenue jumped over 24 percent to US$6.06 billion in the fiscal fourth quarter, beating analysts’ estimate of US$5.89 billion, according to IBES data from Refinitiv.

The company expects fiscal first-quarter sales to be US$5.2 billion, plus or minus US$200 million, while analysts on average were expecting US$5.31 billion.

Net income attributable to the company rose to US$988 million, or 87 U.S. cents per share, in the last quarter, from US$561 million, or 49 U.S. cents per share, a year ago. (SD-Agencies)

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