(Bloomberg) -- Micron Technology Inc. warned that about half of its sales tied to China-headquartered clients may be affected by a cybersecurity probe being carried out by the Chinese government, representing a “low-double-digit percentage” of its global revenue.
Several of Micron’s customers are being contacted by Chinese officials as part of a probe by the Cybersecurity Administration of China, announced earlier this year, the company said in a regulatory filing. Micron’s revenue with companies based in mainland China and Hong Kong, including direct sales as well as indirect sales through distributors, accounts for about a quarter of Micron’s global revenue and remains the principal exposure, the company said.
“Micron is working to mitigate this impact over time and expects increased quarter-to-quarter revenue variability,” the company said in the filing.
Micron’s shares fell 2.3% as the market opened in New York on Friday.
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