Today Renesas announces it is setting out on the fab-lite route, selling a Japan-based fab to TSMC, going to TSMC for future adanced processes and laying off up to a third of its workforce. It's a sorry state to be in.

The state of Renesas, Elpida, Panasonic and Fujitsu, which have no other strategy than merging, raising more capital, going fabless and, in Elpida's case, going bankrupt, was not inevitable.

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