Japan's Elpida to outsource chips to Taiwan's ProMOS

TOKYO, Nov 6 (Reuters) - Japanese chip maker Elpida Memory (6665.T) said on Friday that it would outsource chip production to Taiwan's ProMOS (5387.TWO) as it seeks to cut costs and better compete against bigger South Korean rivals.

Elpida, which is chasing Samsung Electronics (005930.KS) and Hynix Semiconductor (000660.KS) and is in a neck-and-neck race with U.S. chipmaker Micron Technology (MU.N), will outsource 65-nanometre chip production to ProMOS, Taiwan's No.3 DRAM maker, it said. (Reporting by Mayumi Negishi)