Consolidation in the Flash-memory market is accelerating.
Today, the world’s third Flash-memory maker announced that its Japanese subsidiary declared bankruptcy, the biggest in Japan’s manufacturing sector this year, according to Teikoku Databank.
However, this action does not include any of Spansion’s other subsidiaries or their operations outside of Japan.
“Our Japanese operations have sufficient cash on hand to meet their immediate, short-term working capital needs and we plan to maintain our high standards of excellence and our commitments to product quality, safety and outstanding customer service,” said John Kispert, Spansion’s president and CEO.
Earlier today, Qimonda said it is slashing production by 75% and that it must find a buyer by April or liquidate itself.
