Infineon announced that the carve-out of its memory products business group into a new company will be effective on May 1st, 2006. The new company named Qimonda will start its operations headquartered in Munich. Qimonda will have the legal form of a German Aktiengesellschaft (AG) and will initially remain a wholly owned subsidiary of Infineon. It is the clear intention of Infineon to launch an Initial Public Offering (IPO) of Qimonda as the next step.

The CEO-designate of the new company is Kin Wah Loh, who has been head of the Memory Products business group since last summer and a member of the Management Board of Infineon Technologies AG since the end of 2004. Before becoming a member of the Infineon board, he was president and managing director of Infineon Technologies Asia Pacific. From May 1st, 2006, onwards, Qimonda will operate as a Top 4 DRAM company worldwide (according to Gartner Dataquest, February 2006). The company will have access to five 300mm manufacturing sites on three continents and will operate five major R&D facilities, including the lead R&D-center in Dresden. Qimonda will have approximately 12,000 employees worldwide.