Micron, Fujian Jinhua to settle lawsuits

US chip giant first filed IP complaint against the Chinese rival in 2017

US chip company Micron Technology Inc has settled an intellectual property lawsuit with Chinese company Fujian Jinhua Integrated Circuit Co, which experts said can pave the way for positive development of the firms in the future.

The comments came after a Micron spokeswoman said in a statement that "the two companies will each globally dismiss their complaints against the other party and end all lawsuits between them."

Roger Sheng, vice-president of research at US market research company Gartner Inc, said: "Reaching a global settlement agreement between Micron and Fujian Jinhua can create a better development environment for both companies in the future".