Ad
Ad
Ad
Ad
Ad
Ad
Components | February 27, 2012

Elpida files for bankruptcy protection

Japanese chipmaker Elpida has filed for bankruptcy protection today.
Set up in 1999 as a joint venture between Japanese electronics companies NEC Corp. and Hitachi Ltd., the company will be delisted from the Tokyo Stock Exchange on March 28., with debts standing at 448 billion yen (US$5.6 billion) as of March 31, 2011.

A ”record-breaking strong yen against the US dollar, and the steep fall of the price of DRAM products by fiercer competition in the DRAM industry,” made the business unprofitable a statement by the company said. These problems compounded with the recent flooding in Thailand according to the company.

The company has posted operating losses for five consecutive quarters.

Comments

Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Load more news
December 13 2017 10:15 PM V8.9.2-2