Hitachi, NEC to Launch DRAM Venture on Monday

Hitachi and NEC is expected to announce today the establishment of a DRAM (dynamic random access memory) joint venture, the companies said in a brief statement.

Details of the planned joint venture company were not available. DRAMs are memory chips used as main memory in computers as well as many other electronics devices.

Hitachi and NEC are both among the world's largest makers of DRAMs, and a merger of the two companies' memory chip businesses could result in the creation of a new industry giant.

The announcement was expected, as the two companies have been in talks about merging their respective DRAM operations into a joint venture company.

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