A victim of the worldwide recession and the falling price of memory chips, German semiconductor maker Qimonda filed for bankruptcy on Friday.
Questions raised about continued production at Qimonda
The company had been in bailout talks with Infineon, which has a 77.5 percent ownership stake, the German state of Saxony and a Portuguese bank. The plan would have given it cash through the end of the year.
Qimonda blamed falling chip prices for scuttled the deal. The price of DRAM memory chips used in computers fell more than 70 percent last year.
According to Dow Jones, suppliers have already begun to halt shipments of supplies and materials to the ailing firm, a sign it might not continue to operate. With the memory chip business still plagued by overcapacity, the closing of the Qimonda factories would be welcome by other chip makers.
Infineon spun off Qimonda in 2006.
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