Andre Yoskowitz
24 Jan 2016 21:41
Japan's struggling electronics maker Toshiba is likely to sell part of its chip business as the company hopes to rebound from years of falling revenues and a $1.3 billion accounting scandal that threatened to bankrupt the company.
The company has begun accepting bids and already has some early interest.
Any sale would exclude Toshiba's NAND flash memory division but will include businesses related to LSI and discrete chips. Those chips are used in industrial machinery, cars and home appliances. Together, sales for those businesses were $2.78 billion for the fiscal year ended March 2015.
Toshiba will use any funds to focus on its flash memory production capacity and its storage business.
Source:
Reuters