Business News
Elpida Memory posts 643-million-dollar quarterly loss
Oct 27, 2011, 10:23 GMT
Tokyo - Japan's Elpida Memory Inc on Thursday booked a group net loss of 48.9 billion yen (643 million dollars) for the July-to-September quarter because of the yen's rise and depressed prices.
The loss compared with a year-earlier profit of 9.2 billion yen, said the manufacturer of dynamic random-access memory (DRAM) chips for games and personal computers.
Elpida said its sales plunged 56.9 per cent to 64.1 billion yen because of weak demand amid a slowing global economy while it posted an operating loss of 44.68 billion yen, compared with an operating profit of 23.5 billion yen for the same period last year.
Elpida said the company would move part of its domestic production to Taiwan because the strong yen was hurting its earnings.
Elpida did not release an earnings outlook for the financial year, which ends March 30, because of wide fluctuations in DRAM product prices.
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