Smartphone, PC Sales ‘Meaningfully Lower’ Than Pre-COVID, Says Micron CEO
Most of Micron Technology’s fab and assembly sites operated at full production throughout Q3 ended May 28, despite the COVID-19 pandemic, said CEO Sanjay Mehrotra on a Monday evening investors call. Its Singapore and Taiwan assembly and test facilities achieved…
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“record production” in the quarter, he said. COVID-19's impact on Micron’s production early in Q3 was limited to two “back-end assembly and test sites” in Malaysia, he said. “We quickly offset this impact with production adjustments at our other facilities. All our production facilities are operating normally.” The pandemic’s economic impact is causing “stronger demand in some segments and weaker demand in others,” said Mehrotra. “Market segments driven primarily by consumer demand have seen a negative impact.” Calendar 2020 estimates for “end-unit” sales of cars, smartphones and PCs are “meaningfully lower” than pre-COVID-19 levels, “even though estimates for enterprise laptops and Chromebooks have increased,” he said. “The reduced level of global economic activity has also curtailed near-term demand.”