BREAKINGVIEWS-Apple’s China plea signals low-tech chip upheaval
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The author is a Reuters Breakingviews columnist. The opinions expressed are her own.
By Robyn Mak
HONG KONG, July 15 (Reuters Breakingviews) - The iPhone maker’s pursuit of low-end chips from a blacklisted producer spotlights a global shortage. For years, the West prioritised investing in advanced silicon. Now Chinese giants like CXMT, which has doubled its IPO fundraising target to $8.6 bln, will seize market share.
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CONTEXT NEWS
China's Changxin Memory Technologies doubled its IPO fundraising target for its Shanghai listing to 57.9 billion yuan ($8.6 billion), per an exchange filing on July 14.
Apple has begun testing memory chips made by CXMT for devices sold in China, the Financial Times reported on July 8, citing sources.
Talks between Apple and CXMT are ongoing, and Chief Executive Officer Tim Cook appealed to Trump administration officials, including Treasury Secretary Scott Bessent, to help "soften the political fallout" from a potential deal, Bloomberg reported on July 2, citing sources.