FILE PHOTO: The logo of U.S. memory chip maker MicronTechnology is pictured at their booth at an industrial fair in Frankfurt, Germany, July 14, 2015. REUTERS/Kai Pfaffenbach
SAN FRANCISCO (Reuters) - Chipmaker Micron Technology Inc on Thursday announced it was experimenting with a new pricing model for its chips called forward pricing agreements that would aim to stabilize the steep price fluctuations that plague the industry.
"I'm super excited to announce that a top 10 customer has already signed up on this model with us, a more than $500 million a year of revenue for a three year agreement," said Sumit Sadana, Micron's chief business officer at the company's investor day event.
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