The slump in the price of memory earlier this year continues to take its toll on the market, with Micron Technology turning in poor results for its first financial quarter.
Both turnover and profitability were significantly down over the equivalent period last year. Turnover last year was $1.186 billion with profits of $328 million. But this year those figures fell to profits of $20.6 million on turnover of $728.1 million.
Steve Appleton, president of Micron, blamed lower pricing on memory as the chief reason for the significantly smaller profits.
Micron manufactures Dram, static Ram, Flash memory, PC systems and printed circuit boards.
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