Micron Technology has been redefining innovation for over 30 years. Its scientists, visionaries, and dreamers have come up with the world’s best semiconductor and memory technologies. Today, Micron continues to push the boundaries of what’s possible. Its products include memory, 3D XPoint, NAND flash, and NOR flash. Read on to learn more about this technology and company. What is Micron Technology?
Micron Technology was founded in Boise, Idaho in 1978 as a semiconductor design consulting firm. Its early investors included local Idaho businessmen, as well as a billionaire, J. R. Simplot. Micron went from consulting to manufacturing in 1981. Its first wafer fabrication line produced 64K DRAM chips. This was enough to propel the company to success in the semiconductor industry. But today, Micron has a global presence and is the largest supplier of DRAM memory chips.
In 1994, the company began to diversify its business to include other technology. Its memory chip division sold more than four-fifths of PC systems worldwide. This expansion allowed Micron to reduce its prices significantly and increase its customer base. By the end of its first fiscal year, Micron was selling memory chips for as low as $3.40. Its profits increased by about two-thirds, and the company decided to suspend construction on its new fabrication plant in Utah.
This strategy was designed to enable the company to operate in a competitive environment without heavy overhead. Micron had to compete with larger and more complacent companies. Their first factory cost less than $20 million, a fraction of the cost of a typical semiconductor manufacturing facility. Micron’s competitive edge allowed it to grow to a staggering $2 billion. The company is a global leader in memory chips and is a top-tier supplier of flash drives and other memory products.