Cypress Semiconductor to discontinue reverse-auction practice

May 3 (Reuters) - Cypress Semiconductor Corp. CY.N said it will discontinue participation in reverse-auctions as it believes the practice does not allow it to realize the full value for its products.

Reverse-auction is a process whereby suppliers bid against one another in real-time over the Internet for procurement contracts. The process, where prices fall over time instead of rising, had numerous drawbacks, the company added. (Reporting by Swagata Gupta in Bangalore)