DRAM-Maker Powerchip To Cut Costs; Sees Price Rebound

Powerchip Semiconductor, the largest Taiwanese DRAM maker, said it will cut costs and sell non-core assets in response to the sharp decline in pricing and demand in the memory chip business, according to Reuters.

The company also reportedly said that DRAM prices could recovery in the second half of the first quarter following industry wide production cuts.

Perhaps encouraged by Powerchip’s statement on DRAM pricing, U.S.-based rival Micron Technology (MU) today have bounced 29 cents, or 10.2%, to $3.13.

Meanwhile, shares of troubled Qimonda (QI) have bounced sharply after the

German-based DRAM company late Friday said it has submitted a plan to the NYSE for restoring the company’s compliance with the Big Board’s listing standards.

QI today is up 8 cents, or 21.1%, to 46 cents.