Micron Settles IP Theft Lawsuit Amid Push to Repair Beijing Ties

Micron Technology Inc. has settled a high-profile intellectual property theft lawsuit with a key, state-backed Chinese rival amid the US company’s efforts to mend ties with Beijing.

Micron said it has reached a global settlement agreement with Fujian Jinhua Integrated Circuit Co.“The two companies will each globally dismiss their complaints against the other party and end all lawsuits between them,” a Micron spokeswoman said in an email, declining to provide further details.

Fujian Jinhua did not immediately respond to an email seeking comment outside of office hours.

The settlement comes months after the Chinese government in May barred Micron’s ...