The Boise, Idaho-based memory chipmaker, Micron Technology has recorded a net loss of $275 million, or 27 cents a share during the first quarter.

The company had recorded a net loss of $187 million or 19 cents during the same quarter of the previous year. Analysts were expecting a net loss of not more than 20 cents per share in the quarter. The company also said that its revenue fell to $1.83 billion compared to $2.09 billion during the same quarter of the previous year. According to Thomson Reuters I/B/E/S, the analysts were expecting revenues of $2.005 billion for the quarter till November 2012.

Customers are increasing looking to buy smartphones and tablets instead of laptops and this has made market conditions difficult for PC manufacturers and this has intern decreased the demand for DRAM chips that are produced by Micron and others like Samsung Electronics. The global economic slowdown has also put pressure on prices for chips in the international markets, reducing the margins for the chip manufacturers. DRAM revenue was down 9 percent from the previous quarter because of a 9 percent drop in prices.

Shares of the company fell 2.79 percent in extended trade today after closing 0.44 percent below at $6.79 at the stock market.