A major Chinese flash memory chip maker, Yangtze Memory Technologies Co. (YMTC), has recently filed a patent lawsuit against Micron Technology Inc. (Micron). According to reports, YMTC has accused Micron of infringing on eight of its patents. The lawsuit was filed in the U.S. District Court for Northern California.
Micron is a prominent seller of dynamic random-access memory (DRAM) chips, used in smartphones, servers, and computers. However, YMTC alleges that Micron has not paid the appropriate fees for using its patented inventions.
It is worth noting that YMTC was added to a U.S. government export blacklist last year, and as a response, Beijing banned Chinese firms from purchasing Micron products earlier this year due to national security concerns.
Despite reporting better-than-expected fiscal fourth-quarter results in late September, Micron continues to face challenges from the restrictions imposed by China on its products.
Micron and YMTC have been contacted for comments regarding the lawsuit. In a statement to Reuters, YMTC confirmed the filing and expressed confidence that the matter would be resolved promptly.
Micron's stock has witnessed a significant increase of 50% in 2023.