approximately 120 thousand wafer starts per month. According to the supply agreement between Inotera and Micron Technology, Inotera sells substantially all of its manufacturing output to Micron Technology beginning in early 2013 based on a contractually defined pricing formula. Inotera is designed to focus on operational excellence in mass production to manufacture DRAM memory products with high quality using state-of-the-art technology and to leverage its economies of scale in order to maximize its cost efficiency.

Inotera has reached full conversion to 30nm process technology in the second quarter of 2013. In addition, the company is continuing to optimize its manufacturing efficiency and provide diverse DRAM products to fulfill customers’ needs.

Inotera is confident that the company's strengths in operational excellence, cost efficiency and adoption of advanced technologies will keep the company in a leading position as one of the most productive semiconductor manufacturers worldwide. Together, the Board of Directors and the management team of Inotera Memories will keep striving to enhance the competitiveness of the company and to create value for the shareholders.