Samsung Wins One-Year Relief From New US Chip Embargo

Samsung Wins One-Year Relief From New US Chip Embargo
  • 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
Posted In: BriefsGovernmentNewsRegulationsTechMedia