Printed from http://www.electronista.com

Memory maker Qimonda files for bankruptcy

updated 01:35 pm EST, Fri January 23, 2009

Qimonda going bankrupt

German RAM producer Qimonda has filed for bankruptcy on Friday in a Munich court, according to a report. The move follows an unsuccessful search for funding of the equivalent of about $384 million which was in addition to an earlier approved deal that would see it get the equivalent of about $415 million. As the original sum still has not been received by Qimonda despite being approved last month, it is believed the company is only days away from insolvency.

Owned by Infineon, Qimonda's bankruptcy will result in the majority of its 12,000 employees losing their positions, which is on top of the 3,000 job cuts the company announced back in October. Some of these jobs are in the US, though an unspecified number of the employees may be absorbed by Infineon. Qimonda is expected to continue its admittedly crippled operations and restructuring program with the support of a court-appointed preliminary administrator.



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

SMS Audio Sync Sport on-ear headphones

When hitting the gym or going out for a trail run, headphones can cause a number of problems. From the ear buds getting slimy with swe ...

Adesso Xtream S3B Bluetooth speaker

Finding a speaker purpose-built for a specific need is challenging. Even when a Bluetooth speaker can be paired with a mobile device, ...

JBL Synchros E40BT headphones

For all the different configurations of headphones on the market, it's always a tough choice for buyers to get something that is just ...

Sponsor

toggle

Most Commented

 
toggle

Popular News