Toshiba Completes Sale of Flash Memory Unit to Investment Group That Includes Apple

Discussion in 'iOS Blog Discussion' started by MacRumors, Jun 3, 2018.

  1. MacRumors macrumors bot

    MacRumors

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    Toshiba has completed the $18 billion sale of its memory chip unit to a global consortium that includes Apple, almost nine months since it announced that the deal had been agreed (via Reuters).

    The Japanese firm had originally planned to wrap up the sale by mid-March, however a lengthy review by Chinese antitrust authorities didn't finish until last month. Toshiba confirmed this week that ownership of the NAND flash memory unit had finally changed hands.

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    The investment consortium led by Bain Capital includes Apple, Dell, SK Hynix, Kingston, and Seagate Technology. Toshiba retains a 40 percent ownership of the unit as part of the agreement.

    Toshiba first announced plans to sell its NAND flash memory unit in January of 2017 in order to raise funds to cover several billion dollars of losses associated with its U.S. nuclear subsidiary, Westinghouse. Bidding for the chip unit first kicked off in March of that year, with the manufacturer fielding bids from multiple interested parties.

    Three bidding groups originally competed to take over the lucrative chip unit, with Bain eventually winning out. Apple actually participated in all three bids, demonstrating its keenness to protect its supply of Toshiba flash memory, which it already uses in iPhones and iPads. Apple is thought to have contributed around $3 billion to the Bain deal, giving it around a 16 percent stake.

    Article Link: Toshiba Completes Sale of Flash Memory Unit to Investment Group That Includes Apple
     
  2. Jeaz macrumors 6502

    Jeaz

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    Sweden
  3. Costino1 macrumors 6502a

    Costino1

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    Oct 1, 2012
    #3
    It’s their memory chip division logo.
     
  4. G4DPII macrumors regular

    G4DPII

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    Jun 8, 2015
    #4
    So this sale, cuts out one cost for Apple and the other members of this consortium. Who wants to bet prices will go up instead of down though.
     
  5. brendu macrumors 68020

    Joined:
    Apr 23, 2009
    Location:
    USA
    #5
    Well Apple won’t become the world first trillion dollar company by passing savings on to customers... and at the end of the day I think that is Tim’s biggest objective.
     
  6. cube macrumors Pentium

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    May 10, 2004
    #6
    OK, now just keep making hard and hybrid drives.
     
  7. Yvan256 macrumors 603

    Yvan256

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    Canada
    #7
    Tim should sell Apple-branded sugar water for the rest of his life, there's more profit to be made than trying to change the world.
     

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