Saturday, September 20, 2014
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Microsoft Offers iPhone Users 30 GB of Free Storage
New Tizen Device Coming in India
Samsung Launches My Knox App For Latest Mobile Device
Android L To Support Encryption By Default
Microsoft Outlines Basic Elements Of Direct3D 12
New GeForce WHQL Driver Released
Panasonic and Leica Expand Partnership Agreement
Acer Brings 4K2K Displays With NVIDIA G-SYNC to The US
Active Discussions
Yamaha CRW-F1UX
help questions structure DVDR
Made video, won't play back easily
Questions durability monitor LCD
Questions fungus CD/DVD Media, Some expert engineer in optical media can help me?
CD, DVD and Blu-ray burning for Android in development
IBM supercharges Power servers with graphics chips
Werner Vogels: four cloud computing trends for 2014
 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
Order Your Samsung Galaxy Note 4 Today
Samsung Now Mass Producing 20-Nanometer 6Gb LPDDR3 Mobile DRAM
New Samsung NX1 Launches With APS-C backside-illuminated CMOS
Korean Authorities To Inverstigate LG-Samsung Dispute
Samsung Open Source Conference Kicks off Tuesday
Diesel Black Gold Introduces Custom Samsung Gear S at Runway Show
Samsung Outlines Its Vision for the Future Home At IFA 2014
Samsung Launches Tizen Wearable SDK for Gear S
Samsung Galaxy Tab Active Announced At IFA
Samsung Goes Curvy At IFA 2014
Samsung Partners With Oculus On Gear VR, Announces Galaxy Note 4 And Galaxy Edge at IFA 2014
Samsung Acquires Canadian Cloud Solution Provider

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2014 - All rights reserved -
Privacy policy - Contact Us .