Micron made a loss of $215m in its latest quarter, job losses are coming, and the Seagate eSSD partnership hasn t taken off.
Its fiscal third 2016 quarter revenues were $2.9bn, compared to $3.85bn a year ago and $2.93bn a quarter ago, when it made a $97m loss.
It plans to lower its staff count by about 2,400 jobs - about 7.5 per cent.
The damage was done by a fall in NAND sales, to around $900m, with trade units down 10 per cent compared to the second quarter and average selling price down 6 per cent.
Micron s gross margin of 17 per cent was 3 per cent lower than the second quarter primarily due to lower average selling prices partially offset by manufacturing cost reductions.
To address the current market environment and strengthen our competitive position, we are implementing a number of initiatives to reduce costs, drive greater efficiencies, and increase focus on our strategic priorities."