Micron on Friday said it would implement "meaningful" cuts to chip production as it faces lower prices due to slowing demand, per Reuters.<br /><br />"We are lowering the production of memory chips by a meaningful level, especially that of products with supply secured," the company said. <br /><br />Samsung did not provide details on the exact size of the planned cuts, but the company said the cuts are currently expected to be short-term moves as it continues to invest in production longer term.
