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Toshiba informs SK hynix of new plan to sell stake in memory chip business

Japan's Toshiba Corp. has informed SK hynix Inc. of its new plan to sell stakes in its memory chip business, the South Korean company said Monday.

SK hynix submitted a non-binding bid last month to acquire a stake in Toshiba's chip business.

The logo of SK hynix (Yonhap)
The logo of SK hynix (Yonhap)

In a regulatory filing, SK hynix said it will make an announcement when it decides to make a final bid. 

In January, Toshiba said it would sell a roughly 20 percent stake in its memory operations as it struggles with multibillion dollar write-downs from its nuclear power business in the United States.

Toshiba is the world's second-largest maker of NAND flash memory chips, mainly used in smartphones and other mobile devices. 

SK hynix has moved to bolster its NAND flash memory business. (Yonhap)

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