The Foxconn Technology Group has announced its plans to buy Toshiba’s loss-making chip business. The chairman of Foxconn, Terry Gou, made this announcement during a factory event in Guangzhou, China as reported in the Taipei Times.
Gou stated that Foxconn has the experience of buying Sharp and is now confident about a Toshiba deal. He also said that Foxconn is going to need more flash memory and solid-state drive capacity from Toshiba to store its daily manufacturing data, and Foxconn is developing ultra-high-resolution 8K technology, which would require massive amounts of memory.
Last month, Toshiba announced its plans to sell stakes in its memory chip unit and other businesses, in a bid to alleviate its financial troubles. The Japanese firm reportedly sent letters seeking bids valued at US$13.19 billion for its memory chip business, according to Bloomberg. (Toshiba Wins Stay of Execution)
After South Korea’s Samsung, Japan’s Toshiba, is believed to be the second-largest nand flash memory chip manufacturer in the world. Other potential bidders include, South Korea’s SK Hynix, Micron Technology and Western Digital Corp.
