Friday, December 02, 2016
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Microsoft Stores Reveal Xbox Discounts And Offers
Researcher Bypasses The iOS Activation Lock
Facebook To Offer $20 million To Improve Silicon Valley Communities
Xiaomi Launches Voice -controller Mi Wi-Fi Speaker
Xiaomi "Denies" Mi MIX Nano Existence
Nokia D1C Specs Leak
Foxconn Manager Stole Thousands of iPhones
New ASRock Beebox-S Delivers 4K UHD Playback, 10-bits Color and HDR
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Qimonda...
Last 7 Days News : SU MO TU WE TH FR SA All News

Monday, January 26, 2009
Qimonda Files For Insolvency, Samsung Posts Losses


German chipmaker Qimonda filed for insolvency on Friday after last-ditch talks to secure a state-led rescue failed.

Qimonda said it filed an application to open insolvency proceedings, aiming to reorganize operations as part of an ongoing restructuring program -- just nine days after a similar move by Canadian telecoms gear maker Nortel Networks.

Qimonda's parent company, Infineon, said it expected to make provisions in the hundreds of millions of euros.

Qimonda has been struggling with a slump in prices for dynamic random access memory chips.

"German insolvency law offers the opportunity to accelerate the restructuring process that has already been started in order to reposition the company back onto a solid base," said Kin Wah Loh, President and Chief Executive Officer of Qimonda AG.

"Qimonda has considerable potential for successful repositioning thanks to its leading-edge and innovative Buried Wordline technology, a strong product portfolio, particularly in the areas of graphics and infrastructure, and more than 20,000 patents and patent applications," the company said in a press release. "The Qimonda Management Board will do its utmost, subject to the agreement of the preliminary insolvency administrator, to secure the financial funds necessary for the company?s reorganization in negotiations with potential lenders and investors. Given Qimonda?s technological strengths, the Board sees good chances for success."

Samsung Electronics also posted its first-ever quarterly loss, in the latest signs of recession hitting the technology sector.

Samsung said oversupply and uncertain demand on the chip market would continue, while it posted its first-ever quarterly loss, joining a host of technology companies including Microsoft and Nokia suffering from diving prices and slumping consumer demand.

Samsung posted a fourth-quarter operating loss of 937 billion won ($682 million).


Previous
Next
Intel Chairman Craig Barrett to Retire in May        All News        GeForce 181.22 WHQL Drivers Released
Intel Chairman Craig Barrett to Retire in May     General Computing News      Google Profits Up On Strong Ad Sales

Get RSS feed Easy Print E-Mail this Message

Related News
Samsung Gear S3 Features Lonely Planet's Travel App, Guides and New Watchfaces
Samsung Galaxy S8 To Feature Automatic Focus Function to Its Front Camera
Samsung Investors And Executives Meet to Discuss Company Overhaul
Samsung Dominates The Global Mobile DRAM Market
Samsung To Design Its Own RiSC-V Micro-controller For IoT Devices
Samsung Display To Convert LCD TV Lines Into OLED Phone Lines
Samsung Group Offices Raided in South Korea Scandal
Samsung In Talks To Buy QD Vision
Samsung, Harman Outline Connected Car Vision
Samsung To Manufacture New 10nm Snapdragon 835 Mobile Processor Featuring Faster Quick Charge 4
Samsung To Reward Samsung Pay Users
Analysts Expect Curved, bezel-free iPhones For Next Year

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2016 - All rights reserved -
Privacy policy - Contact Us .