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Technology Stocks : Alliance Semiconductor

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Jul 10 5:00 PM EST

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To: DJBEINO who wrote (5116)	6/23/1999 8:17:00 AM
From: stock talk	Read Replies (2) of 9582

Maybe this had something to do with the down grade?? Wednesday June 23 4:54 AM ET NEC, Hitachi To Develop News Chips TOKYO (Reuters) - Japanese chipmaking giants NEC Corp (Nasdaq:NIPNY - news) and Hitachi Ltd (NYSE:HIT - news) unveiled a broad alliance pact Wednesday, including a possible joint venture to develop new DRAM (dynamic random-access memory) chips. The two companies said in a statement the tie-up was aimed at sharing hefty development costs for new DRAM chips and raising profitability in their ailing semiconductor divisions, which have been hit by a prolonged market slump and stiff price competition. NEC and Hitachi said they aimed to become the world's foremost supplier of DRAM chips and capture 20 percent of the global DRAM market. Once reaching a basic agreement, they will begin unifying product brands and expanding their ties, the statement said. All DRAM operations at the two companies would be combined in the joint venture, allowing significant advantages through economies of scale and shared expenses. ''The memory market is seeing an increasing concentration of North American, European and Asian manufacturers, making it vital to achieve economies of scale and enhanced technological development while strengthening cost competitiveness,'' the statement said. dailynews.yahoo.com

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