SK Hynix bids on part of Toshiba memory division

The Korean SK Hynix is ​​said to have placed an offer for part of Toshiba’s nand memory division. The large memory manufacturer would thus like to strengthen its position in the market for memory chips.

It is not known how large the part is that SK Hynix has bid on. Toshiba plans to divest its memory division and sell a 20 percent stake. In addition to SK Hynix, Western Digital is said to be interested, while “other nand manufacturers” are also in the running, according to Reuters.

Toshiba is the world’s largest manufacturer of nand memory, followed by SK Hynix and Samsung. However, the manufacturers are increasingly facing competition from the Chinese Tsinghua Unigroup, which is going to invest 28 billion euros in a memory factory.

Toshiba plans to divest its memory business and part with it to offset losses incurred following the acquisition of a US nuclear power plant company. Toshiba would like to bring in about 1.6 billion euros with the sale.