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Qimonda may face Bankruptcy


Friday, December 5, 2008
Qimonda AG said it may face bankruptcy if it fails to find new investors or the cash needed to operate in the coming weeks.

The global economic slowdown has hit the makers of computer memory chips hard because of lower prices and a glut of inventory worldwide.

The company said it expects to report an increase in fourth-quarter sales to 476 million euros ($500 million), but for the year, it said it expects to post a drop in sales and net and operating profit losses, though it did not provide any estimates.

Qimonda said it would delay its fourth-quarter and 2008 year-end results until December though its fiscal year ended Sept. 30. Parent company Infineon is scheduled to report its earnings Wednesday.

By: DocMemory
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