Micron Technology Inc. lost money for the sixth straight quarter after what CEO Mark Durcan called a “tumultuous” quarter.
The company saw shifting market demand and encountered some production problems with memory chips the company makes, officials said. Company officials declined to detail the production problem except to say it was the culmination of several forces and is under control.
NAND memory, used in devices such as cellphones to store photos and similar information, saw a drop in volume by 9 percent over the previous quarter. But, it was buoyed by a 5-percent increase in average selling price.
Falling prices hit dynamic random access-memory chips — used in personal computers — causing DRAM memory revenue to fall 9 percent compared with the previous quarter.
The company lost $275 million on $1.8 billion in sales. Total losses over the last six quarters are $1.4 billion.
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