UPDATE 1-Qimonda delays results as investor talks progress

* Delays release of Q4 results to mid-December

* Says making progress on partnership discussions

* Faces cash crunch if strategic initiatives fail

(Adds background, share price)

BERLIN, Dec 1 (Reuters) - Loss-making chipmaker Qimonda QI.N delayed the release of its fourth-quarter results because it was in talks with several strategic and financial investors on potential partnerships it needs to keep operating, it said.

Qimonda said on Monday the talks were making progress and it may be able to make an announcement in the next few weeks.

It said a transaction would affect its financial condition and thus management decided to delay the release of financial information until mid-December, instead of announcing results after the New York market close on Monday, as previously planned.

The U.S.-listed group warned, however, that it would face liquidity shortfalls in the first calendar quarter of 2009 that could affect its ability to operate should the talks not pan out and the industry environment continued to deteriorate.

Shares in parent company Infineon (IFXGn.DE) were down 4.1 percent at 1.775 euros by 0923 GMT, underperforming the DJ Stoxx technology index .SX8P, which fell 2.3 percent.

Qimonda shares traded on the Frankfurt stock exchange floor (QI1Ay.F) gained 41.9 percent to 0.22 euro.

The chipmaker has been struggling with a slump in prices for dynamic random access memory (DRAM) chips. A company spokesman said last month the situation at Qimonda was very serious.

It said it expects to announce net sales of 476 million euros ($616 million) in the fourth quarter of its 2008 financial year, an increase of 24 percent compared with the third quarter.

Analysts polled by Reuters had, on average, expected to see 418 million euros in fourth-quarter sales.

Qimonda said it expects its operating and net loss to be greater than in the third quarter largely due to a writedown on its stake in Inotera, which it sold in October to rival Micron (MU.N), as well as restructuring measures.

Qimonda's gross cash position was 432 million euros as of Sept. 30.

Infineon has been trying to find a buyer for the 77 percent of Qimonda it owns after carving out and listing its former memory chip unit in 2006 in the hope of cutting its exposure to the volatile memory chip market. (Reporting by Nicola Leske; editing by Simon Jessop)