The Internet Information Office launched a network security review of Micron's products sold in China.

CTOnews.com, March 31, according to the Internet Information Office, in order to ensure the supply chain security of critical information infrastructure, prevent network security risks caused by product problems, and safeguard national security, according to the National Security Law of the people's Republic of China and the Network Security Law of the people's Republic of China, the Network Security Review Office is in accordance with the measures for Network Security Review. Conduct a cyber security review of products sold by Micron in China.

Meguiar was founded in 1978 in the basement of a dental clinic in Boysie, Idaho, as a semiconductor design company with only four employees. Micron's first contract was to design 64K memory chips for Mostek Corporation.

Micron recently reported revenue of $3.69 billion for the second quarter of fiscal 2023 (CTOnews.com note: currently about 25.387 billion yuan), compared with $4.09 billion in the previous quarter (CTOnews.com note: current about 28.139 billion yuan) and $7.79 billion in the same period last year (CTOnews.com note: current about 53.595 billion yuan), down about 53% from a year earlier. This is Micron's worst quarterly loss in the past two decades, and the last quarterly loss of this magnitude was in the second quarter of fiscal 2003, when the net loss was $1.94 billion (CTOnews.com Note: currently about 13.347 billion yuan).

Micron plans to cut jobs by nearly 15 per cent, including expected reductions by the end of 2023. It will affect about 7200 Meguiar employees worldwide. Micron CEO Sanjay Merotra (Sanjay Mehrotra) previously said that there is too much supply of semiconductors and insufficient demand. The company has so much inventory that it has lost its pricing power.