Ransomware attack on chip supplier causes delays for semiconductor groups | Financial T... - 0 views
-
Disruption from a ransomware attack on a little-known supplier to the world’s largest semiconductor equipment manufacturers will continue into March, in a new setback to chip production after years of coronavirus-related delays.
-
MKS’s customers include many of the largest companies that produce semiconductors and the specialised equipment necessary to manufacture them, including TSMC, Intel, Samsung and ASML.
- ...8 more annotations...
-
The company had revealed on Monday that it could still take “weeks” more to restore operations and would cost hundreds of millions of dollars in lost or delayed sales. Most ransomware victims are able to recover in about three weeks, according to industry estimates.
-
, the company has now told the US stock market regulator that it is unable to file its annual report on time
-
the final impact on quarterly sales could total as much as $500mn — more than half what Wall Street had previously predicted
-
The semiconductor supply chain, which in many places relies on components made by only one provider, has faced repeated shortages over the past two to three years due to production and logistics delays.
-
However, demand for smartphones and other consumer electronics has waned in recent months as coronavirus lockdowns eased and consumer spending has been squeezed by inflation.
-
, it is unclear if MKS will be encouraged by US law enforcement to resolve the issue by paying a ransom.
-
The article "Ransomware attack on chip supplier causes delays for semiconductor groups," discusses the affects on a company due to a cyberattack that occurred February 3rd. The company is believed to have setbacks into March and that it would cost hundreds of millions of dollars in lost or delayed sales. The company also believes they will be unable to file its annual report on time and possibly have to resolve the issue by paying a ransom. This also cost a 15% decrease of shares for the Company.