Elpida is filing for bankruptcy
COMPUTER memory chip maker Elpida filed for chapter eleven protection from creditors yesterday with 448bn yen (£3.5bn) in debt – one of the biggest bankruptcy filings ever by a Japanese manufacturer.
The company, which makes DRAM (dynamic random-access memory) chips used in traditional computers, has taken a hit since consumers have turned their eyes to tablets, which are less reliant on DRAM chips.
Elpida has made a net loss for the last six quarters, blaming floods in Thailand and the record strong yen as well as rising competition.