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China launches cybersecurity review on US chip maker Micron

China launches cybersecurity review on US chip maker Micron
Micron's shares down 3% after news

By Gokhan Ergocun

ISTANBUL (AA) - China launched a cybersecurity review on US-based semiconductor producer Micron's products related to national security.

The Cyberspace Administration of China (CAC) announced the decision aimed to ensure the security of the key information infrastructure supply chain, prevent network security risks caused by hidden product problems and maintain national security.

After the decision. the price of Micron Technology dropped 3% to $61.20 as of 1540GMT, versus the previous close.

China has targeted a US-based chip maker for the first time with the action.

Micron said in a report in 2021 that it faced the threat of increasing competition as a result of significant investments in the chip field in China.

source: News Feed
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