Elpida Memory files for bankruptcy

Elpida Memory has filed for bankruptcy protection today, as the firm is unable to refinance its heavy debt. It's the largest Japanese manufacturing corporate failure since World War II, the company has a debt of $5.5 billion and a DRAM marketshare of 12.5 percent.

Elpida decided to separate the low margin PC business to its Taiwanese subsidiary and concentrate instead on higher ASP devices for smartphones after the financial crisis. Yukio Sakamoto, Elpida