WDC could be out on its arse
Korean chipper SK Hynix is joining a Japanese state fund-led consortium to bid for Toshiba's memory business, and WDC could be out.
The background to this bewildering and lightning fast game of musical chairs is that Toshiba is selling its NAND chip and SSD-making unit for at least ¥2tn ($18bn) to recover from cost overruns at its bankrupt Westinghouse Electric US power station building business.
Toshiba has declared a ¥950bn ($8.6bn) loss for the fiscal year ended 31 March.
It's also agreed to contribute $3.68bn to the building of two nuclear power stations in Georgia and is talking about contributing to one in South Carolina.
Reuters reports that the consortium, led by the Innovation Network Corp of Japan (INCJ) and supported by the Development Bank of Japan (DBJ), could include SK Hynix, a rival to WDC.