Feeds

Hynix preps ‘drastic’ solution to its woes

Announcement next week, says restructuring chief

  • alert
  • submit to reddit

Protecting users from Firesheep and other Sidejacking attacks with SSL

Hynix will even consider striking a deal with Samsung if its attempt to build an alliance with Micron falls through, the head of the company's Restructuring Committee has said.

Shin Kook-hwan, who chairs the panel formed under Hynix's creditors to oversee the hunt for a solutions to the ailing chip company's financial woes, told Korean TV that the company will announce a "drastic self-rehabilitation package" next week, today's Korea Herald reports.

Curiously, a Hynix Restructuring Committee official, Lee Kwang Seok, said earlier this week that Micron will make some sort of offer for Hynix next week. However, the committee's general secretary, Choi Soo, said later that such a claim was inappropriate and premature, but clearly some short-term announcement is being planned.

Micron's representatives returned to the US a week ago, and the two companies announced they had agreed a framework in which future alliance talks would be conducted.

Shin's comments suggest that the company is worried that Micron will demand too much of Hynix's negotiators. The US company is certainly in a very strong position. Hynix needs a deal far more than it does, but it clearly doesn't want to bend over backwards for Micron in order to strike a deal.

"If Micron demands too much in forming an alliance, Hynix will go its own way since it is capable of staying afloat on its own, which is a view shared by creditors," Shin said. Going its "own way" includes approaching its Korean rival, Samsung, he added.

Shin, who is a former Korean commerce, industry and energy minister, was first to suggest Hynix was looking at alliances with other memory producers and named Micron as a prospective partner long before either company officially announced they had begun exploratory talks. He also said the company might even be shut down if a solution to its problems could not be found.

Shin said attempts to sell off Hynix plant was proving more complicated than originally anticipated, and that the company is looking to seek deals with local technology start-ups. ®

Related Stories

Micron, Hynix deal to be announced next week?
Micron, Hynix to spill beans on alliance by year's end
Micron, Hynix confirm talks
Micron merger hints boost Hynix shares
Hynix creditors consider killing company off

Website security in corporate America

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Israeli spies rebel over mass-snooping on innocent Palestinians
'Disciplinary treatment will be sharp and clear' vow spy-chiefs
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Show us your Five-Eyes SECRETS says Privacy International
Refusal to disclose GCHQ canteen menus and prices triggers Euro Human Rights Court action
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.