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German chipmaker Qimonda files for insolvency

Mohit Joshi 23 January 2009

German chipmaker Qimonda files for insolvencyMunich  - Struggling chipmaker Qimonda has filed for insolvency at a court in Munich, a court spokeswoman said Friday.

The Infineon subsidiary received a 325-million-euro (422-million- dollar) cash injection in December in a bid to keep it afloat.

In addition to its main factory at Dresden in the east of Germany, Qimonda has a plant near Porto in Portugal.

Qimonda has suffered from a dramatic fall in prices for computer chips.

In November, the company warned it might face insolvency if support was not forthcoming. (dpa)

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