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With demands severely hit by the recession, Toshiba has decided to slice its NAND flash memory production by 30%. The chips are used as storage on iPod and other digital players. Along with the cuts in production it will also be halting operations at various other semiconductor plants for as long as a month. The company mentioned in a statement:

Recession in the global economy and the slowdown in consumer spending are having a significant impact on demand for semiconductors. This is particularly notable in NAND flash memories, where decreased demand for applications such as memory cards and MP3 players has generated excess supply.