Printed from http://www.electronista.com

Japanese chipmaker Elpida files for bankruptcy

updated 12:05 pm EST, Mon February 27, 2012

Elpida files for bankruptcy protection in Japan

Despite recent efforts to team with Toshiba or partner with Micron, Japanese computer chipmaker has filed for bankruptcy protection on Monday, The Register reported. The DRAM maker has debts that add up to 448 million yen ($5.6 million). In a statement, the company revealed its actions were made necessary by the falling prices of DRAM products due to competition and record yen values against the US dollar.

An additional factor were last year's Thailand floods. The company didn't wish to continue its business on its own, fearing an imminent cash shortage.

Elpida was the first Japanese company to get the government's financial aid in 2009, getting 30 billion yen (nearly $373 million) from the Development Bank of Japan and borrowing at other banks.

The chipmaker is a result of the merging of Hitachi and NEC's merging their DRAM operations in 1999. It began being traded on the Tokyo Stock Exchange in 2004 after taking over Mitsubishi's DRAM division in 2003.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

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

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Sound Blaster Roar Bluetooth speaker

There could very well be a new king of the hill for Bluetooth speakers, with Sound Blaster's recent entry into the marketplace. Bringi ...

Kenu Airframe Plus

Simple, stylish and effective, the Kenu Airframe + portable car mount is the latest addition to Kenu's lineup. Released earlier this y ...

Plantronics Rig Surround 7.1 headset

Trying to capture the true soundscape of video games can be a daunting task. Looking to surround-sound home theater options, users hav ...

Sponsor

toggle

Most Commented

 
toggle

Popular News