Full Description

Micron Technology, Inc., incorporated in 1978, is a global manufacturer and marketer of semiconductor devices, principally dynamic random access memory (DRAM) and Nandi Flash memory (NAND). In addition, the Company manufactures complementary metal-oxide semiconductor (CMOS) image sensor products under a wafer foundry arrangement. The Company operates in two segments, Memory and Imaging. The Memory segment’s primary products are DRAM and NAND Flash, which are memory components used in an array of electronic applications, including personal computers, workstations, network servers, mobile phones, Flash memory cards, universal serial bus (USB) storage devices, moving picture experts group layer-3 audio (MP3/4) players and other consumer electronics products. On July 10, 2009, the Company sold a 65% interest in Aptina Imaging Corporation (Aptina) to Riverwood Capital and TPG Capital.

Memory

The Company sells primarily to original equipment manufacturers (OEM), distributors and retailers located around the world. During the fiscal year ended September 3, 2009 (fiscal 2009), the Company’s sales of Memory products were 89% of the Company’s total net sales. DRAM products are high-density, low-cost-per-bit, random access memory devices that provide high-speed data storage and retrieval. DRAM products were 50% of the Company’s total net sales during fiscal 2009. The Company offers DRAM products with a variety of performance, pricing and other characteristics, including high-volume double data rate 2 (DDR2) and DDR3 products, as well as specialty DRAM memory products, including DDR, synchronous dynamic random access memory (SDRAM), Mobile DRAM, pseudo-static random access memory (PSRAM) and reduced latency dynamic random access memory (RLDRAM).

DDR2 and DDR3 are standardized, high-density, high-volume DRAM products that are sold primarily for use as main system memory in computers and servers. The Company offers DDR2 products in 256 megabit, 512 megabit, 1 gigabit and 2 gigabit densities. The Company offers DDR3 products in 1 gigabit and 2 gigabit densities. The Company also offers specialty DRAM memory products including DDR, SDRAM, Mobile DRAM, PSRAM and RLDRAM, which are used primarily in networking devices, servers, consumer electronics, communications equipment and computer peripherals, as well as memory upgrades to legacy computers.

NAND products are electrically re-writeable, non-volatile semiconductor memory devices that retain content when power is turned off. NAND sales were 39% of the Company’s total net sales during fiscal 2009. Removable storage devices, such as USB and Flash memory cards are used with applications, such as personal computers, digital still cameras, MP3/4 players and mobile phones. Emegabitedded NAND-based storage devices are utilized in MP3/4 players, mobile phones, computers and other personal and consumer applications. The Company offers Single-Level Cell (SLC) products and Multi-Level Cell (MLC) NAND products.

The Company offers RealSSD solid-state drives for enterprise server and notebook applications. The Company’s digital media products also include its JumpDrive products, which are high-speed, portable USB flash drives for consumer applications that serve a variety of uses, including floppy disk replacement and digital media accessories, such as card readers and image rescue software. The Company offers Flash memory cards in all media formats used by digital cameras and other electronic host devices, including compactflash, memory stick and secure digital cards. Other products, including secure digital card flash memory cards and some JumpDrive products, incorporate third party controllers. The Company sells products under its Lexar brand and also manufactures products that are sold under other brand names.

Imaging

The Company manufactures CMOS image sensor products for Aptina under a wafer supply agreement entered into at the time the Company agreed to sell a 65% interest in Aptina on July 10, 2009. Following the sale, the Company holds a 35% interest in Aptina.