Sunnyvale-based Weitek Corp warns of a significant first-quarter loss, and says it will stop manufacturing its own mainstay products. It has hired Hambrecht & Quist to find it partners that can develop products based on Weitek technologies. The chipmaker said shipments of of its W464 chip are running far below expectations and tumbling prices in the memory chip market have resulted in severe price pressure on the W464. It will stop manufacturing the chips as a result and says that first quarter turnover will be substantially below the $3.3m it reported in the fourth quarter of 1995. Analysts had been projecting a net loss for the period of about 17 cents a share for the company.
