Tsinghua Unigroup Axes Memory Chip Projects

China’s state-backed Tsinghua Unigroup has scrapped major memory chip projects as new investors push to turn around the debt-stricken company that has been left reeling from US restrictions, Nikkei Asia reported.

The group is also preparing for a major personnel reshuffle at affiliate Unisoc, China’s second-biggest mobile chip developer, amid Beijing’s concerns over the lack of a viable 5G player.

Read the full report: Nikkei Asia.

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.