The largest memory chip maker in the United States is contesting a Chinese court decision that temporarily halted the sale of some of its products in the country.
Micron said On Thursday, a Chinese court in Fujian province temporarily halted the sale of certain Crucial and Ballistix memory modules and solid state drives, which represent just over 1% of the company's total annual revenues.
Micron said it would comply with the ruling at the same time it asks the court to reconsider or suspend its decision. The company expects its revenues for the current quarter to be within its previously guided range of $ 8 billion to $ 8.4 billion.
Stocks rose almost 2% in the first trading on Thursday. Shares fell 5.5% on Tuesday after the injunction and were not negotiated on Wednesday due to the July 4 holiday in the United States.
The state-owned chip manufacturer Fujian Jinhua Integrated Circuit Co. and its Taiwanese partner,
accused Micron in China in January of manufacturing products that violate their patents separately. That happened a month after the US company. UU He filed a lawsuit in California alleging that Jinhua and UMC had stolen Micron's trade secrets at his plant in Taiwan. Jinhua has denied the accusations. On Thursday, Micron said Fujian and United Microelectronics filed the lawsuits in "retaliation."
Micron also said that patents are invalid and that their products do not infringe them.
"China's central government has often stated that the rights of foreign companies are just and equally protected in China," the company said in a statement. "Micron believes that the ruling issued by the Fuzhou court in Fujian province is inconsistent with this proclaimed policy."
Write to us Austen Hufford at [email protected]