AMD to sell some testing operations, gives weak revenue forecast

Advanced Micro Devices Inc said on Thursday it would sell most of its assembly and testing operations in two Asian cities, as the struggling chipmaker looks to cut spending amid weak demand for its processors for personal computer. AMD said it will sell 85 percent of its ATMP (assembly, test, mark and pack) operations in Suzhou, China and Penang, Malaysia to China's Nantong Fujitsu Microelectronics Co Ltd (NFME) for a net proceeds of $320 million.