China has launched a cybersecurity probe into Micron Technology, one of America’s largest memory chip makers.
China has launched a cybersecurity probe into Micron Technology, one of America’s largest memory chip makers, in apparent retaliation after US allies in Asia and Europe announced new restrictions on the sale of key technology to Beijing. The Cyberspace Administration of China will review products sold by Micron in the country, according to a statement by the watchdog late on Friday.
“We are in communication with the CAC and are cooperating fully,” it said, adding that it stands by the security of its products. Risks expected Shares in Micron sank 4.4% on Wall Street Friday following the news, the biggest drop in more than three months. Micron derives more than 10% of its revenue from China. In an earlier filing, the Idaho-based company had warned of such risks.
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