Micron posts quarterly profit as chip prices rise

(Reuters) - Micron Inc posted its first profit in eight quarters due to higher prices for its memory chips used in personal computers, mobile handsets and tablet devices. Net income was $43 million, or 4 cents per share, in the third quarter, compared with a loss of $320 million, or 32 cents per share, a year earlier. Revenue rose 7 percent to $2.32 billion. Micron said average selling prices of its dynamic random access memory (DRAM) chips rose 16 percent. (Reporting by Sruthi Ramakrishnan in Bangalore)



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