The Foxconn-led consortium has reportedly been joined by the Apple, Dell, and Kingston Technology. According to China’s Foxconn CEO Terry Gou, Apple and Dell have teamed up to participate in bidding for Toshiba Corp’s chipmaking units. “I can tell you Apple is in for sure,” Gou said. Also Read - Windows 11 release on October 5: How to check if your PC can install Windows 11 or not
CEO Gou told Reuters in an interview that the two consumer electronic companies have joined its consortium to bid for Toshiba’s chip business and tipped of being in talks with other major tech firms such as Google, Microsoft, and Cisco Systems. It also revealed that leading e-commerce giant Amazon.com was also close to team up. Also Read - Redmi Smart TV 32-inch, 43-inch with Android 11 launched in India, price starts at Rs 15,999
However, the Chinese manufacturer remains tight-lipped on an estimated amount of money that the Apple and Dell might invest in the bidding. The company further added that Apple Inc.’s participation in the bidding has been approved by the Apple CEO Tim Cook and other board of directors. About Toshiba, the Japanese company has reportedly been going through financial pressures which have subsequently led it to put some its unit on auction. ‘Toshiba is entertaining multiple bids as it looks to unload the unit to ease its financial pressure,’ CNET reports. ALSO READ: Huawei surpasses Apple in global smartphone sales by volume: Report Also Read - Microsoft Surface event today: What to expect, how to watch livestream
Toshiba is the second leading manufacturer of NAND (negative-AND) memory chips, popularly known as the flash storage used in smartphone, laptop, and other portable devices. The Japanese firm’s NAND unit approximately values at 18billion USD (approximately over 100 crores) or more. Toshiba has around cost expenses of billions of dollars to cover at Westinghouse Electric Corp which is its nuclear division based in the US and is nearly bankrupt.
Toshiba is said to announce a deal by mid-June after shareholders cast their vote on the sale on 28 June. According to BBC, Foxconn was reportedly willing to pay $27bn for the chipmaking unit. Prior to this, Foxconn acquired the Japan-based Sharp in year 2016.