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Micron to Reduce Memory Chip Supply in 2023 to Clear Excess Inventory Amid Slump in Demand

Micron will reduce memory chip supply and make additional cuts to its capex plan, the company said on Wednesday. The semiconductor manufacturer is currently struggling to sell excess inventory. Micron said it is reducing the initial process in semiconductor production for DRAM and NAND by about 20 percent compared with the fourth quarter that ended on September 1.

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