- Joined
- Oct 14, 2007
I initially saw this at Tech Reaction forums; good catch on their part!
Nyarlathotep_75 said:High End Desktop DRAM Manufacturer, Elpida, filed for Bankruptcy today, citing 5.6 billion in debt....
CEO resigning in disgrace as "scapegoat"...
Reuters Source
(Reuters) - Elpida Memory Inc filed for protection from creditors on Monday with $5.6 billion in debt, the biggest bankruptcy filing by a Japanese manufacturer, after potential partners failed to come through to rescue the cash-strapped chipmaker.
Engadget Source
DRAM Maker Elpida has petitioned for a corporate reorganization (the equivalent of Chapter 11 or Administration) as the company has revealed it is close to collapse. President Yukio Sakamoto is expected to resign as the scapegoat for the calamity as it files for protection at the Tokyo District Court.
Bloomberg Source
Feb. 27 (Bloomberg) -- Elpida Memory Inc., the last Japanese maker of computer-memory chips, filed for the nation’s biggest bankruptcy in two years after semiconductor prices plunged and it failed to win a second government bailout. Elpida, unprofitable in each of the past five quarters, had liabilities of 448 billion yen ($5.5 billion), according to a filing with Japan’s finance ministry today. The maker of dynamic random access memory, or DRAM, chips will be delisted from the Tokyo Stock Exchange on March 28.
Start grabbing your DRAM sticks NOW guys, prices are expected to start going up in no time at all! Speculations already on the buzz that Newegg is going to start adjusting their prices within days!