China's Yangtze Memory Files Patent Infringement Suit Against Micron - Report-To The Moon - Tiger Brokers Online Investing Community

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China's Yangtze Memory Files Patent Infringement Suit Against Micron - Report

Seekingalpha2023-11-14

Chinese chip manufacturer Yangtze Memory Technologies has sued Micron Technology (NASDAQ:MU) alleging infringement of eight of its patents, Reuters reported.The lawsuit was filed by Yangtze Memory on ...

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It noted that Micron was not paying its proper share to use the patented inventions, the report noted.\"While we cannot discuss the specifics of pending litigation, I can confirm that YMTC recently filed a lawsuit in the U.S. District Court for the Northern District of California against Micron Technology, Inc for infringement of our company’s patents related to the design, manufacture, and operation of 3D NAND technology,\" Yangtze Memory told the news agency in a statement.Yangtze Memory added that it was confident that the matter would be resolved swiftly.Micron manufacturers dynamic random access memory, or DRAM, chips and NAND (NOT AND) flash memory chips and has rivals such as Samsung (OTCPK:SSNLF) SK Hynix and Japan's Kioxia, a subsidiary of Toshiba. However, Yangtze Memory is a smaller competitor which was barred last year by the U.S. from purchasing certain products.In recent years, the U.S. has increased curbs on exporting chipmaking technology to China on security concerns. In October, the U.S. brought in new updates to its export restrictions which curbed the sale of chips that Nvidia (NVDA) made for the Chinese market, such as the A800 and H800 chips. Advanced Micro Devices (AMD), Intel (INTC) and certain other chip stocks were also impacted by the October AI chip ban.In May, China had said that Micron's products failed a network security review and halted their purchase by operators of key infrastructure. China was once Micron's biggest market, accounting for half of its $20B revenue in fiscal 2017. However, the share slumped to 16% in 2022, same year in which the company closed DRAM operations in Shanghai, the report added.Earlier in November, it was reported that China's commerce minister indicated that the Asian country was open to Micron expanding its presence in the Chinese market.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"hasMoreComments":false,"newsSizeData":{"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}