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Hynix cuts capital spending by $1 billion
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Hynix Semiconductor has been reported to be cutting capital spending
plans for 2008 by approximately $1 billion due to poor pricing of NAND
and DRAM memory devices as overcapacity remains in the market.
Hynix reported a fourth-quarter loss in February of approximately $400 million. Investments of approximately $2 billion at its 300mm fabs, M11 and Wuxi C2 line, are not affected by the CapEx reduction, according to reports. Spending in the first half of the year is on target with reductions due to the second half of 2008.