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Intel to Sell NAND Flash Memory Business to SK Hynix for $9 Billion

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The world’s second-largest chipmaker, South Korea’s SK Hynix, on Tuesday announced a $9 billion (roughly Rs. 66,000 crores) deal to buy Intel’s flash memory chip operation as it seeks to bolster its position against rival behemoth Samsung Electronics.
The world’s second-largest chipmaker, South Korea’s SK Hynix, on Tuesday announced a $9 billion (roughly Rs.66,000 crores) deal to buy Intel’s flash memory chip operation as it seeks to bolster its position against rival behemoth Samsung Electronics. SK Hynix is already the world number two maker of DRAM chips, used in computers and servers, and the second-largest chipmaker overall. But it has lagged in the market for flash memory, or NAND chips, which are used in everyday devices such as smartphones and USB storage drives, as well as industrial and medical equipment. In a regulatory filing, SK Hynix said it will acquire Intel’s „entire NAND business division excluding the Optane division“ for KRW 10.3 trillion (roughly Rs.66,300 crores), with Intel’s factory in Dalian, China, included in the deal. SK Hynix ranked fourth by global NAND sales in the second quarter this year, according to market researcher Trendforce.

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