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Foxconn Ponders Toshiba Buyout

Taiwan’s Foxconn, the world’s largest contract electronics maker, has approached South Korean chip maker SK Hynix to explore a joint bid for Toshiba’s memory chip unit, the Nikkei new service reported.

Toshiba, the second-biggest NAND chip producer after South Korea’s Samsung Electronics, is considering selling the majority – or all – of its marquee flash-memory chip business, as it seeks to make up for a $6.3 billion writedown from its US nuclear unit Westinghouse.

Foxconn said last week it is “definitely bidding” for Toshiba’s chip business and that it is “very confident” it can buy into it. Watch this space …

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