Apparently Apple wants to join forces with Foxconn on Toshiba bid
Posted by ishubhamsingh
Toshiba’s NAND flash memory division is up for sale and the company already has a bunch of bidders, with Foxconn being one of them. The company has reportedly put in a $27 billion bid on Toshiba’s memory business, which is expected to be rejected.
But all is not lost for Foxconn. According to the public broadcaster NHK, Apple is thinking of joining in on the fun. The iPhone maker is considering partnering up with Foxconn in hopes of increasing its chances of closing the deal with Toshiba.
Apple is willing to invest several billion dollars to secure at least 20 percent of Toshiba’s memory business. Foxconn would obviously also get a stake, while Toshiba would still maintain a small part of the business. The whole point of the deal is to keep the company under US and Japanese control, essentially sidestepping any opposition to Foxconn alone taking over.
The relations between Japan and China aren’t the best. Therefore, giving control of Toshiba’s memory business to Foxconn, a company headquartered in Taiwan that has close ties to China, isn’t something the Japanese government is very happy about.
It looks like Foxconn is trying everything it can to acquire Toshiba’s NAND flash memory division. In addition to joining forces with Apple, the company also reached out to SoftBank and asked for help. According to the Nikkei Business Daily, the company thinks that SoftBank just might help in smoothing the way with Japanese banks.
It will be interesting to see which company will be able to close the deal with Toshiba in the end. Aside from Foxconn and Apple, the South Korean company SK Hynix, US chipmaker Broadcom, and current Toshiba partner Western Digital are also still in the game.
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