Micron reflects on challenging market environment in 2Q

The Boise Idaho memory manufacturer recorded revenues of USD 5.84 billion during its second quarter 2019, down quite significantly from USD 7.35 for the same period last year.

GAAP net income for the second quarter amounted to USD 1.62 billion, down from USD 3.3 billion during 2Q18. Operating cash flow was USD 3.44 billion versus USD 4.35 billion for the same period last year "Micron continues to execute well across a range of product, operational and financial initiatives against the backdrop of a challenging market environment," says Micron Technology President and CEO Sanjay Mehrotra, in a press release. "These initiatives and our focus on high-value solutions, cost competitiveness and innovation will enable us to emerge even stronger as the market environment improves."

MagnaChip Semiconductor says that certain of its wholly-owned subsidiaries have entered into a definitive agreement to sell the company's Foundry Services Group and the factory in Cheongju (Fab 4), the larger of the company's two 8" manufacturing facilities.

Against the backdrop of the current situation related to the spread of COVID-19 and the resulting restrictions in private and business lives, Singulus Technologies is implementing short-time work at two of its German sites.

Kyocera Corporation has entered into a share transfer agreement with NEC Corporation on March 25, 2020 to acquire all of NEC’s shares in Showa Optronics Co., Ltd., an optical components manufacturer.

The economic and social effects caused by COVID-19 are currently creating supply chain disruption and uncertainty around future demand.

Due to a Movement Control Order announced by the Malaysian government, Renesas three production sites located in the country temporarily halted productions from March 18, 2020.

TTI, Inc. says it remains open following the guidelines mandated by local and federal governments during the COVID-19 coronavirus outbreak, with precautions in place to safeguard employees’ health.

Nokia says it has completed its acquisition of U.S.-based supplier of silicon photonics technology, Elenion Technologies.

On March 24, 2020, Nexperia announced that CEO Frans Scheper has decided to take early retirement and will step down as Nexperia CEO and Management Board Member per March 25, 2020.

Ohio-based Intellitronix Corporation, a subsidiary of US Lighting Group, has been invited by the Ford Motor Company to submit a proposal to design and manufacture an automotive electronics component for one of the automaker’s upcoming vehicles.

NEXT Biometrics has received an additional order for UIDAI and STQC certified fingerprint biometric readers in India valued at USD 360,000. The customer has provided a 20% upfront payment and the readers have been delivered to the customer.

Because of the global corona pandemic, Elmos Semiconductor AG is planning to introduce short-time work of up to 50%.

paragon is set to take immediate action in response to moves by automotive manufacturers closing down their plants. The company is now reducing production at its automotive manufacturing sites in Germany to a minimum for the time being.