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July 20, 1998

SIEMENS LOOKS SET TO CUT MEMORY CAPACITY

By CBR Staff Writer

Siemens’ results last week highlighted the poor performance of its memory semiconductor division, a weakness the company said it plans to offset by switching much of its focus to logic chips, but this leaves a question mark over the future of the German company’s memory chip manufacturing. German daily newspaper, Der Spiegel, said yesterday that Siemens is planning to pull out of memory chip production, a report that Siemens has denied. A spokesperson for the company, however, said that if the current downturn in the memory chip market continues – which seems likely – then Siemens will look to cut manufacturing capacity. The company is now evaluating how to reduce its memory capacity, but will not make an announcement before September at the earliest, a spokesperson said.

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