Apple, Google's joining Toshiba bid lowers SK hynix' chance

Apple, Google's joining Toshiba bid lowers SK hynix' chance

The company is still bleeding red ink, and could report a $9 billion loss this year thanks to issues that have nothing to do with the memory chip business.

Several major players, including Apple, Amazon and Google, are said to be in a bidding war for the prize of a "business in a box" in a growing market.

Currently, there are 10 bidders including the world's third largest NAND flash maker Western Digital, Korean chipmaker SK hynix, Taiwanese tech firm Hon Hai and United States chipmaker Broadcom.

Toshiba officials were not immediately available for comment.

Bloomberg reported, at the time, that the bids could range from between 700 billion Yen ($8.2 billion) to 1.8 trillion yen ($21.2 billion), according to sources familiar with the matter.

Toshiba made a decision to sell its lucrative chip unit last month to make up for the loss of its USA nuclear unit Westinghouse, which filed for bankruptcy protection.

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Toshiba is set to begin the process of negotiating a sale of its memory chip operations that meets its financial needs while addressing government security concerns, Nikkei Asian Review reported.

In January, the company revealed it would sell a portion of its flash memory business, including the SSD business of the Storage & Electronic Device Solutions Division, to Western Digital.

Just last week, Toshiba announced that WEC and its subsidiaries had filed for Chapter 11 bankruptcy proceedings in the U.S., in a bid to reorganise the associated businesses.

With its memory chip business up for grabs, Toshiba could be in for a big windfall.

Struggling electronics and machinery maker Toshiba could post a consolidated net loss exceeding ¥1 trillion for the fiscal year ending March this year, and its debts are feared to have surpassed its assets by ¥620 billion as of the end of March.

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