SEOUL Netflix co-CEO Ted Sarandos pledged on Thursday (Jun 22) that its bumper investment in South Korean content would not bypass young local talent, after calls by some lawmakers for the streaming giant to share more profits with creators. South Korea has created some of the Californian company’s biggest shows,Continue Reading
The US Commerce Department said it would speak directly with authorities in Beijing to clarify their actions.
“We also will engage with key allies and partners to ensure we are closely coordinated to address distortions of the memory chip market caused by China’s actions,” the department said.
China’s announcement on its Micron review helped boost shares in some local chipmaking-related firms on Monday, as state media reported that domestic players could benefit from the move.
Shares in companies including Gigadevice Semiconductors, Ingenic Semiconductor and Shenzhen Kaifa technology opened up between 3 per cent and 8 per cent.
Micron’s major rivals also saw their shares gain, with South Korea’s Samsung Electronics and SK Hynix rising 0.7 per cent and 2 per cent, respectively, versus a 0.9 per cent rise in the broader market.
“As China’s domestic memory suppliers are not competitive in technologies and capacity, China would need to resort to Samsung, SK Hynix, Kioxia, Western Digital or other foreign suppliers as the alternative to Micron,” Bernstein analysts said in a note.
It said Samsung and SK Hynix, which have chip factories in China, may gain more traction with Chinese customers. Both Samsung and SK Hynix had no comment.
However, Jefferies analysts expected limited impact on Micron as its major customers in China are consumer electronics firms such as smartphone and computer manufacturers, not infrastructure suppliers.
“Since Micron’s DRAM and NAND products are much less in servers, we believe most of its revenue in China is not generated from telcos and the government. Therefore, the ultimate impact on Micron will be quite limited,” they said in a note.
It generated US$5.2 billion of revenue from China including US$1.7 billion from Hong Kong last year, about 16 per cent of its total revenue, according to Jefferies.
Bernstein said a 2 per cent hit to sales was the most realistic estimate given Micron’s exposure to the enterprise and cloud server segment is relatively small.
Beijing has broadly defined industries it considers “critical” as ones such as public communication and transport but has not specified just what type of business these apply to.
China, the world’s biggest semiconductor buyer, has gradually reduced its reliance on foreign-made chips in a multi-year campaign to boost its self-sufficiency.
Its DRAM chip output accounted for 15 per cent of global supplies last year, up from 10 per cent in 2018, according to research firm TrendForce.
WASHINGTON: China’s central bank governor on Friday (Apr 14) took a swipe at efforts by Western economies to trade more with allies and rely less on the world’s largest goods-exporting country, saying that such “friend-shoring” attempts could prevent global supply chain tension from easing. Reducing their deep dependence on supplyContinue Reading
China’s cyberspace regulator will conduct a cybersecurity review of products sold in the country by US memory chip manufacturer Micron, the regulator said on Friday (Mar 31). The move, which comes amid a spat over chip technology between Washington and Beijing, is aimed at protecting the security of the supplyContinue Reading
Huawei Technologies has replaced more than 13,000 parts in its products that were hit by United States trade sanctions, the Chinese tech giant’s founder said, according to a speech transcript posted on Friday (Mar 17) by a Chinese university. According to the transcript of the February speech posted by ShanghaiContinue Reading
SINGAPORE: Asian stocks tumbled on Thursday (Mar 16), and investors bought gold, bonds and the US dollar as fear of a banking crisis was reignited by fresh troubles at Credit Suisse, leaving markets on edge ahead of a European Central Bank (ECB) meeting later in the day. Japan’s Nikkei fellContinue Reading
However, the developments sent shivers through Asian markets as memories of the 2008 global financial crisis came flooding back. Among banks, Japan’s Sumitomo Mitsui Financial and Mitsubishi UFJ Financial shed more than 2 per cent apiece, while South Korea’s Hana Financial Group gave up more than 3 per cent andContinue Reading
SHANGHAI: China’s science and technology policies should aim to build the country’s strength and self-reliance, while companies take the lead in pushing innovation, Premier Li Keqiang said on Sunday (Mar 5). The country effectively countered external attempts to suppress and contain China’s development over the past five years by promotingContinue Reading
KUALA LUMPUR: Abu Dhabi’s International Petroleum Investment Co (IPIC) and its unit Aabar Investments PJS have agreed to pay US$1.8 billion to settle a legal dispute over the scandal at Malaysian state fund 1MDB, Malaysia’s finance ministry said on Monday (Feb 27). Malaysia in 2018 had filed a challenge inContinue Reading
In a statement posted on its Twitter account, Hindenburg said “regarding the company’s threats of legal action, to be clear, we would welcome it”. “We fully stand by our report and believe any legal action taken against us would be meritless,” it added. Founded by Nathan Anderson in 2017, HindenburgContinue Reading