DRAM chipmaker Inotera Memories' board of directors on March 25 approved a budget of NT$34.4 billion (US$1.1 billion) for transitioning the company's production node to 20nm process technology.

Inotera said previously that its capex for 2015 remains unchanged at NT$50 billion, and reiterated plans to have 80% of its production capacity enter 20nm production by years end. After the DRAM maker migrates to the newer node, its monthly production will drop to below 100,000 12-inch wafers from the current 120,000-130,000 units.

Inotera reported record revenues and profits for 2014. The company expects to enjoy another record year in 2015.