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Citing a DRAM glut, weak pricing and a strong Yen currency, Elpida Memory has filed for bankruptcy protection in an effort to restructure the company. A ‘sponsor’ is being sort, though it was clear from Micron Technology management recently that they were interested in some deal with Elpida.
The company has debts of approximately US$5.5 billion. According to TrendForce, Elpida ‘could not turn around its worsening
contract price market’s client structure, and it was forced to catch-up
in terms of its product lines with other first-tier DRAM makers; as a
result, Elpida faced financial difficulties during this wave of DRAM
industry downturn.’
According to TrendForce, Elpida ‘could not turn around its worsening contract price market’s client structure, and it was forced to catch-up in terms of its product lines with other first-tier DRAM makers; as a result, Elpida faced financial difficulties during this wave of DRAM industry downturn.’
TrendForce also claimed that without NAND Flash products it was a victim of the PC DRAM market dynamics and couldn’t offer a multi-chip package for a broader market position.
Few should be surprised at the move by Elpida to attempt restructuring via the bankruptcy courts as the company had battled losses and fierce competition for many years.