Hynix slams Micron ‘double talk’
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Posted in Channel, 7th January 2003 17:30 GMT
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The words 'Hynix' and 'beleaguered' are joined at the hip, lately. The Korean DRAM maker maybe down, but it's certainly not out. Today Hynix has come out fighting against Micron, former suitor and current tormentor, which is urging US regulators to slap punitive duties on its Korean rival.
Hynix accuses Micron of 'double talk', telling world+dog that it has been undermined by multi-billion dollar support for Hynix from the Korean government. At the same time, the US chipmaker is telling the financial community that its balance sheet is strong and that it may soon return to profit. This counter-attack is being conducted on behalf of Hynix by Wilkie, Farr & Gallagher, a Washington DC law-firm, Bloomberg reports.
Well, it's a defence, but the firm will have to assemble some stronger arguments if it is to persuade America's International Trade Commission (ITC) to refrain from imposing tariffs on its client's US exports.
The ITC will make its decision in mid-2003, but it has already made a tentative ruling that Hynix has indeed received unfair support from the Korena government. Also, the ITC historically has not been backward in coming forward with punitive duties in defence of Micron, the only major US DRAM chipmaker. ®
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