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Foxconn says Apple, Amazon to join its bid for Toshiba chip business : report

LiveMint logoLiveMint 05-06-2017 Makiko Yamazaki

Tokyo/Taipei: Apple Inc. and Amazon.com Inc. will join Foxconn’s bid for Toshiba Corp’s semiconductor business, the Nikkei business daily quoted Foxconn chairman Terry Gou as saying on Monday.

The two US technology giants plan to “chip in funds”, Gou said, according the interview with the newspaper. It was not immediately clear if this would take the form of a direct investment in the semiconductor unit or would be financing for the deal.

Taiwan’s Foxconn, formally known as Hon Hai Precision Industry Co. Ltd, has also partnered with its Japanese unit Sharp Corp in its bid.

Representatives for Apple and Amazon were not immediately available for comment.

Toshiba is depending on the sale of the unit, the world’s second-largest NAND chip maker, to cover billions of dollars in cost overruns at its now bankrupt US nuclear unit Westinghouse.

Foxconn is not seen as a frontrunner in the sale of the unit, which Toshiba has valued at at least $18 billion, due to its deep ties with China. The Japanese government has said it will block any deal that would risk the transfer of key chip technology out of the country. Reuters

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