CoreSolid Storage, a SSD joint venture between TDK and Power Quotient International (PQI), has suspended its operations due largely to fierce competition in the industrial-specific memory market.

PQI stated that the closure of CoreSolid will have limited impact on its operations, as it holds only a minor stake in the joint venture.

TDK, which has steered the management of CoreSolid since PQI was acquired by Foxlink in 2010, has chosen to exit the industrial memory market because of a shift in its corporate strategy rather than incurring losses, the sources noted.

In other news, Skyviia, a multimedia IC design subsidiary of NAND flash controller maker Skymedi, has reportedly also entered a liquidation process – a development which may trigger further consolidation in the controller IC segment, the sources commented.