Samsung Wins One-Year Relief From New US Chip Embargo - Samsung Electronics Co (OTC:SSNLF)

Samsung Electronics Co, Ltd SSNLF bagged a one-year immunity from the new U.S. embargo on exports of advanced chips and related equipment to China.
The U.S. Department of Commerce allowed Samsung to continue receiving chip-making equipment and other items needed to maintain its memory-chip production in China, the Wall Street Journal reported.
Samsung operated chip facilities in two Chinese cities.
Also Read: Taiwan Reasons Why It Is Futile For US And China To Harm TSMC
SK Hynix HXSCL and Intel Corp INTC also disclosed winning a one-year exemption against the embargo.
Samsung dominated the production of DRAM and NAND flash memory chips.
Samsung operated a NAND flash memory-chip plant in Xi’an and a chip-packaging facility in Suzhou.
As of the second quarter of this year, Samsung accounted for 43.5% of global revenue for DRAM and roughly one-third of global revenue for NAND flash, according to TrendForce.
Shares in top Chinese chipmakers shed $7.7 billion in market value on October 10, as new U.S export controls kicked in.
Top U.S. lawmakers had urged the Biden administration to blacklist Chinese semiconductor company Yangtze Memory Technologies Co for allegedly violating export controls by supplying Huawei Technologies Co, Ltd.
Photo by Pierre Lecourt via Flickr