Toshiba Completes Sale of Flash Memory Unit to Investment Group That Includes Apple

by

Toshiba has completed the $18 billion sale of its memory chip unit to a global consortium that includes Apple, almost nine months since it announced that the deal had been agreed (via Reuters).

The Japanese firm had originally planned to wrap up the sale by mid-March, however a lengthy review by Chinese antitrust authorities didn't finish until last month. Toshiba confirmed this week that ownership of the NAND flash memory unit had finally changed hands.

"Toshiba hereby gives notice that the closing of the sale has been completed today as scheduled," the group said in a statement on Friday.

The investment consortium led by Bain Capital includes Apple, Dell, SK Hynix, Kingston, and Seagate Technology. Toshiba retains a 40 percent ownership of the unit as part of the agreement.

Toshiba first announced plans to sell its NAND flash memory unit in January of 2017 in order to raise funds to cover several billion dollars of losses associated with its U.S. nuclear subsidiary, Westinghouse. Bidding for the chip unit first kicked off in March of that year, with the manufacturer fielding bids from multiple interested parties.

Three bidding groups originally competed to take over the lucrative chip unit, with Bain eventually winning out. Apple actually participated in all three bids, demonstrating its keenness to protect its supply of Toshiba flash memory, which it already uses in iPhones and iPads. Apple is thought to have contributed around $3 billion to the Bain deal, giving it around a 16 percent stake.

Tag: Toshiba

Top Rated Comments

(View all)
Avatar
26 months ago
So this sale, cuts out one cost for Apple and the other members of this consortium. Who wants to bet prices will go up instead of down though.
Score: 2 Votes (Like | Disagree)
Avatar
26 months ago

Why the weird looking Toshiba logo?

It’s their memory chip division logo.
Score: 2 Votes (Like | Disagree)
Avatar
26 months ago
Why the weird looking Toshiba logo?
Score: 1 Votes (Like | Disagree)
Avatar
26 months ago

Well Apple won’t become the world first trillion dollar company by passing savings on to customers... and at the end of the day I think that is Tim’s biggest objective.

Tim should sell Apple-branded sugar water for the rest of his life, there's more profit to be made than trying to change the world.
Score: 1 Votes (Like | Disagree)

Top Stories

'This App is No Longer Shared' iOS Bug Preventing Some Apps From Opening

Friday May 22, 2020 3:58 pm PDT by
An app bug is causing some iOS users to be unable to open their apps, with affected iPhone and iPad users seeing the message "This app is no longer shared with you" when attempting to access an app. There are multiple complaints about the issue on the MacRumors forums and on Twitter from users who are running into problems. A MacRumors reader describes the issue:Is anyone else experiencing...

Apple Memorial Day Deals: Shop the Best Apple Accessory Sales From Twelve South, eBay, Anker, Mophie, and More

Friday May 22, 2020 6:39 am PDT by
We're now just a few days away from Memorial Day on Monday, May 25, and numerous retailers have opened up discounts in celebration of the holiday. This includes sales on helpful Apple-related accessories like Anker's portable batteries, Beats headphones at eBay, Incase and Incipio's protective iPad and iPhone cases, Mophie's iPhone battery cases, JBL's Bluetooth speakers, and much more. Note:...

Former iOS Chief Scott Forstall Shares Intriguing Story of His Interview With Steve Jobs at NeXT

Friday May 22, 2020 4:01 am PDT by
Former Apple executive and iOS chief Scott Forstall made a rare public appearance this week at Code.org's virtual Code Break event, and in between classes, Forstall shared the intriguing story of how he was hired by Steve Jobs. Forstall revealed that he had been considering working at Microsoft when he went to interview at NexT, the company started by Jobs after he had left Apple. Forstall...

'Apple Glass' Rumored to Start at $499, Support Prescription Lenses, and More

Tuesday May 19, 2020 6:30 am PDT by
Front Page Tech host and leaker Jon Prosser today shared several alleged details about Apple's rumored augmented reality glasses, including an "Apple Glass" marketing name, $499 starting price, prescription lens option, and more. The marketing name will be "Apple Glass" The glasses will start at $499 with the option for prescription lenses at an extra cost There will be displays in both...

Apple's 'Bounce' AirPods Ad Wins 'Best of Advertising' Award

Friday May 22, 2020 10:09 am PDT by
Apple's creative "Bounce" ad designed to highlight the AirPods took top honors in the 99th annual ADC (Art Director's Club) awards for advertising, earning the "Best of Discipline" award along with two Gold Cube awards in the craft in video and branded content categories. Released in June 2019, the ad features a bored man who pulls his AirPods off of their wireless charging pad and then pops ...

Apple's 'AirPods Studio' Over-Ear Headphones Have Reportedly Kicked Off Production

Friday May 22, 2020 7:03 am PDT by
We've been hearing quite a bit recently about Apple's long-rumored over-ear headphones, said to be called "AirPods Studio," and it looks like a launch may be coming in the relatively near future. Artist mockup based on Beats Studio3 Rumors have generally suggested a summer or fall launch for AirPods Studio, with a report earlier this week claiming that suppliers in Vietnam will begin...

Top Stories: Apple Glass and iPhone 12 Rumors, iOS 13.5 Update, and More!

Saturday May 23, 2020 6:00 am PDT by
It was another big week for rumors this week, with a flurry of reports about Apple's augmented reality glasses, the iPhone 12, and Apple's "AirPods Studio" over-ear headphones. This week also saw the release of iOS 13.5, bringing a number of health-related updates to Apple's mobile devices. Subscribe to the MacRumors YouTube channel for more videos. Other topics of interest this week included ...

Apple Releases iPadOS and iOS 13.5 With Exposure Notification API, Face ID Mask Updates, Group FaceTime Changes and More

Wednesday May 20, 2020 10:00 am PDT by
Apple today released iOS and iPadOS 13.5, major updates that come more than a month after the launch of iOS and iPadOS 13.4.1. iOS 13.5 is a major health-related update that brings many features related to the ongoing public health crisis. The iOS and ‌‌iPadOS‌‌ 13.5 updates are available on all eligible devices over-the-air in the Settings app. To access the updates, go to Settings...

Jon Prosser Claims Apple is Working on 'Steve Jobs Heritage Edition' AR Glasses, Gurman Calls Rumor 'Complete Fiction'

Thursday May 21, 2020 4:50 pm PDT by
Apple is working on a limited-edition version of its augmented reality smart glasses that's designed to look like the round, frameless glasses that Steve Jobs was famous for wearing, according to Jon Prosser. Prosser, who runs YouTube show Front Page Tech and who has been sharing a flood of Apple rumors in recent weeks, mentioned the detail in Cult of Mac's latest Cultcast podcast....

T-Mobile and Sprint Offering Free iPhone SE With Trade-In

Thursday May 21, 2020 1:14 pm PDT by
T-Mobile is launching a Memorial Day promotion that will see the company offering a free iPhone SE to customers who trade in an eligible older smartphone in good condition. From Friday to Monday, customers who trade in an existing smartphone can get a free iPhone SE (sales tax still needs to be paid) or up to $500 off a Samsung Galaxy S20. The free iPhone SE will be provided in the form...