Chipmaker Micron's turnaround plans dashed, shares drop

(Reuters) - Memory-chip maker Micron Technology Inc said it would lower costs, including by focusing on fewer projects and cutting jobs, after its hopes of reversing its fortunes this year were dashed by a persistently challenging market. A decline in demand for Micron's chips for personal computers has showed no sign of letting up, while it faces stiff competition from rivals such as Samsung in the market of chips for servers, smartphones, USBs and other devices. The company's sales have fallen