US Chip Maker Micron Under Fire as China Launches Cybersecurity Probe
In a move that has sent shockwaves through the global tech industry, China has launched a cybersecurity probe into US chip maker Micron Technology, one of America's largest memory chip manufacturers. The probe is seen as retaliation against the recent restrictions imposed on Chinese companies in Asia and Europe, which aim to curb Beijing's growing semiconductor industry.
The Cyberspace Administration of China (CAC) will review products sold by Micron in the country, according to a statement released late on Friday. The move is aimed at ensuring the security of key information infrastructure supply chains, preventing cybersecurity risks caused by hidden product problems, and maintaining national security.
Micron has been warned about such risks before, having disclosed in an earlier filing that it was subject to potential restrictions in China. In fact, the company had expressed concerns last week that the Chinese government may restrict its participation in the China market or prevent it from competing effectively with Chinese companies.
The probe comes as Beijing seeks to boost growth and job creation by wooing foreign investments. However, the country has also exerted growing pressure on foreign companies to bring them into line with its agenda, including closing offices of international firms like Mintz Group and Deloitte's operations in Beijing for three months.
Shares in Micron sank 4.4% on Wall Street following the news, marking the biggest drop in more than three months. The company derives over 10% of its revenue from China, making it a key target in Beijing's efforts to curb foreign companies' influence in the sector.
The move has been widely seen as a test case for the effectiveness of US and European restrictions on Chinese tech exports. As tensions between the two superpowers continue to escalate, the global tech industry is bracing itself for further disruptions and challenges.
In response to the probe, Micron told CNN that it was aware of the review and would cooperate fully with the CAC. However, the company maintained that its products are secure and that it stands by their quality.
In a move that has sent shockwaves through the global tech industry, China has launched a cybersecurity probe into US chip maker Micron Technology, one of America's largest memory chip manufacturers. The probe is seen as retaliation against the recent restrictions imposed on Chinese companies in Asia and Europe, which aim to curb Beijing's growing semiconductor industry.
The Cyberspace Administration of China (CAC) will review products sold by Micron in the country, according to a statement released late on Friday. The move is aimed at ensuring the security of key information infrastructure supply chains, preventing cybersecurity risks caused by hidden product problems, and maintaining national security.
Micron has been warned about such risks before, having disclosed in an earlier filing that it was subject to potential restrictions in China. In fact, the company had expressed concerns last week that the Chinese government may restrict its participation in the China market or prevent it from competing effectively with Chinese companies.
The probe comes as Beijing seeks to boost growth and job creation by wooing foreign investments. However, the country has also exerted growing pressure on foreign companies to bring them into line with its agenda, including closing offices of international firms like Mintz Group and Deloitte's operations in Beijing for three months.
Shares in Micron sank 4.4% on Wall Street following the news, marking the biggest drop in more than three months. The company derives over 10% of its revenue from China, making it a key target in Beijing's efforts to curb foreign companies' influence in the sector.
The move has been widely seen as a test case for the effectiveness of US and European restrictions on Chinese tech exports. As tensions between the two superpowers continue to escalate, the global tech industry is bracing itself for further disruptions and challenges.
In response to the probe, Micron told CNN that it was aware of the review and would cooperate fully with the CAC. However, the company maintained that its products are secure and that it stands by their quality.
China launching a cybersecurity probe on US chip maker Micron? That's like, major drama in the tech world right now! 
I'm thinking about all those people who work for Micron, like, what are they going to do? 
The shares are already sinking like 4.4% on Wall Street? That's wild! 
But at the same time, I get it - China wants to boost growth and job creation by getting foreign investments in. 
It's all about balance, right? 
We're seeing more and more restrictions popping up left and right. 
Who knows what's gonna happen next? Will Micron be able to recover from this probe? Only time will tell... 
. China launching a probe on Micron is one thing, but what really gets my goat is how this reflects poorly on the whole platform we use to discuss these issues 
. I mean, can't we have a straightforward conversation about tech without all the drama and politics getting in the way? 
. It's just another example of how our actions as consumers can have far-reaching consequences, but it's not like we're being given any useful information or resources to make informed decisions ourselves 
.
️ and now i have heartburn i dont get why china is being all like this with micron tho 
but at the same time, microns been warned before and they're still not doing anything about it 
what if this probe is just another way for china to get back at us for being all strict on their tech exports? 
i dont know, can someone explain it to me like im 5? 
i mean i've been drinking coffee since i was like 10 lol but this place has a secret menu that changes every month and i'm obsessed with trying all the flavors 
what do u think about the US-China trade wars tho? it feels like we're living in a spy movie 
micron's revenue from china is like, what even is that number again? 10% or was it 20%? i got my math wrong every time 
so like this is crazy news right? China launching a cybersecurity probe on US chip maker Micron 
I mean Micron's products are secure, they're not doing anything wrong... it just feels like they're being singled out because of their ties to the US 
china is launching a cybersecurity probe on them like what now?! 
can't say i'm surprised though, been saying for ages that china's trying to level the playing field by any means necessary. so what's next? 
anyway, as a productivity nerd, i gotta say that if you're a business owner or work in tech, it's time to get your cybersecurity game on 
prioritize data security, invest in tools and training, and make sure you're complying with all the regulations 
trust me, it's better to be safe than sorry 
It's like they're trying to set a precedent or something...
i mean they already had some issues before and now this probe is just adding more fuel to the fire... what if they have to shut down all their operations in china? that would be devastating for them and their employees 
plus it'll set a bad precedent for other american companies too... we gotta root for micron and hope everything works out 
. It's like they're sending out signals that US companies aren't welcome anymore 
. They've got nothing to hide, right? 
and now they're launching a cybersecurity probe on us... sounds kinda like a big game of chicken to me 
. i mean, micron's been warned before and they've even expressed concerns about getting restricted in china 
if chinese companies can't compete with us, maybe we should just give them some help... or just let them buy us out lol