Inotera Memories plans to more than double its capex budget to NT$50 billion (US$1.65 billion) in 2015 from NT$22 billion projected for 2014 in order to facilitate its migration to 20nm production.

Inotera expects its production of 12-inch wafers to drop to below 100,000 units a month from the current 120,000-130,000 units after it migrates into the 20nm process and projects that 80% of its production capacity to enter 20nm production by year-end 2015.

Inotera posted net profits of NT$11.63 billion for the third quarter of 2014, up 10% sequentially and 60% from a year earlier. Third-quarter EPS stood at NT$1.78 compared to NT$1.68 a quarter earlier.

For the first three quarters of 2014, net profits amounted to NT$43.79 billion, which translated into an EPS of NT$5.31 for the nine-month period.

The company expects its DRAM bit shipments to stay flat in the fourth quarter as compared to the previous quarter, during which bit shipments edged down 3% sequentially.

Capital spending totaled NT$11.5 billion in the first three quarters of 2014, and the company's capex budget for the year remains unchanged at NT$22 billion, Inotera said.