Samsung Wins One-Year Relief From New US Chip Embargo

Author: Anusuya Lahiri | October 13, 2022 07:38am

• Samsung Electronics Co, Ltd (OTC: 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 (OTC: HXSCL) and Intel Corp (NASDAQ: 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

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