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Elpida Memory, the world’s third-largest DRAM maker, filed for bankruptcy Monday in a Tokyo court, saying it had accumulated debts of 448 billion yen ($ 5.5 billion) through March of last year.

The company said it was unable to recoup massive investments in production capacity in 2006 and 2007, which led to an oversupply that sent unit prices lower. The global economic downturn then hit in 2008, and other factors such as the strong Japanese yen and flooding in Thailand last year were more than it could overcome.

The Industry Standard – Infoworld

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