Micron Technology, Inc. (NASDAQ:MU) Becomes A Victim of Heist As China Plans to Compete With the US In Technology of Tomorrow

0
4277

China is putting in considerable efforts to compete with the US and the espionage at Micron Technology, Inc. (NASDAQ:MU) is a proof of this initiative.

The nation is aiming to put a stiff competition to the US in terms of technology and by overhauling its economy. It is ambitious to introduce a plan Made in China by the year 2025. It aims to become a global leader in electric vehicles, robotics, and semiconductors.

China is investing billions in technology buyout from overseas and to innovate the existing plants. It has poached the design of semiconductors and advanced memory chips from Micron Technology through unethical means to build a $5.7 billion manufacturing facility to produce memory chips.

The Human Resources personnel have warned the engineers at a chipmaker based in Taiwan that holds the secrets of the US to conceal the corporate espionage. A lower level employee has collected the laptops, USB drives and vital documents and hid in a locker. The design details from Micron Technology have helped the technology revolution worldwide. The stolen technology is bound for China to build a microchip factory.

Why the US starts a Trade War with China?

The stealing of the US technology secrets is one of the reasons for the US to start a trade war with China. The espionage of the designs two years ago and the raids in 2017 represents the efforts put in by China to steal the technology.

US Companies Accuses China of outright stealing of tech secrets

Many US companies and the politicians in the US are accusing China of stealing its technology. Micron is one of the examples of espionage. The technology theft from Micron helps China to build a memory manufacturing facility.

A state-controlled China company has approached Micron with a $23 billion buyout bid. But, Micron turned down the offer. Then, it became a victim of technology heist.

The US has accused a Taiwanese company of leaking confidential design details to China. Micron is filing a lawsuit against Fujian Jinhua Integrated Circuit Company and United Microelectronics Corp (NYSE:UMC) that are responsible for leaking design details.

According to Micron, its former employees carried the design secrets to UMC. They are trying to send the stolen data to a firm based in China.

LEAVE A REPLY

Please enter your comment!
Please enter your name here