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

SEOUL, March 6 (Yonhap) -- 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.

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.
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