Micron Technology reported lower-than-expected quarterly revenue and profit, hurt by a fall in prices and weak demand for chips used in personal computers. The company's revenue for the third quarter ended June 4 was hurt primarily by a 10 percent decline in selling prices of dynamic random access memory (DRAM) chips, Micron said. Sales volume of those chips, used mostly in personal computers, remained "relatively flat".

Net income attributable to Micron dropped to $491 million, from $806 million a year earlier.

Revenue fell to $3.85 billion from $3.98 billion.