There have also been reports that Japan's government is looking to combine the struggling system chip operations of Renesas Electronics, Fujitsu and Panasonic , with production outsourced to GlobalFoundries, a California-based company that could buy Elpida's chip plant in Hiroshima as part of that deal.
Elpida, which accounts for 12 percent of global DRAM output, has been struggling with a slump in chip prices as consumers increasingly bypass PCs for products like Apple's iPad, which primarily uses flash memory instead of DRAM.
On Tuesday, Micron announced it would pay $600 million to buy back Intel's stake in two factories that make flash memory chips.
Elpida is also saddled with heavy capital spending to keep pace with market leaders Samsung Electronics and Hynix Semiconductor, while a strong yen undercut its global competitiveness.
Shares of Elpida were untraded with a glut of sell orders.
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