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Companies that make memory chips faced bankruptcy, layoffs, and rough prospects. Included in the mix: Micron, Spansion, Qimonda, and Intel.
Qimonda, an affiliate of Germany-based Infineon Technologies, is seeking bankruptcy protection for its U.S. unit.
Largest U.S. maker of memory chips cites decreased demand for its DRAM products. The cuts come on top of a 15 percent reduction in the workforce announced in October.
Memory chip prices shot up on Monday--a welcome bit of news for beleaguered chipmakers. But it took the failure of a large German chipmaker to make this happen.
iSuppli's preliminary 2008 top-20 chip rankings are out as memory chipmakers fall upon hard times.
Micron will buy Qimonda's 35.6 percent stake in Inotera Memories.
Industry outlook quickly getting downgraded as the economy falters.
Market and industry are in a brutal downturn, with little relief in sight. And it's forcing some companies to either merge or perish.