Foxconn has gathered some of the best and high-profile US technology-based firms to take part in its bid for Toshiba’s memory chip unit. On this call, two of the tech tycoons namely Apple and Dell are involved in the consortium which will have a big impact on the bid.
What is Foxconn?
If you still don’t have any idea about Foxconn, it is actually the world’s biggest contract electronics manufacturer and makes the iPhone for Apple. So now you know the power of Foxconn! The company’s chief executive, Mr. Gou is hopeful that other big names including Amazon can become a part of the bid too. Foxconn’s awaits the response from Microsoft, Cisco Systems, and Alphabet Inc.
There are no firm reports about the offer amount but according to analysts, Foxconn may have planned about $18bn (£14.2bn) to offer for the division. This is a quite low amount as compared to $27bn, the one expected earlier this year.
Toshiba Selling Chip Unit to Avoid Bankruptcy
Toshiba company is going through the toughest times of history and to avoid going totally bankrupt, they have planned to sell out their star business, the chip unit in order to cover huge losses in its nuclear division and Westinghouse Electric. The firms interested in acquiring the memory chip unit business of Toshiba include:
- Western Digital
- Micron Technology
- SK Digital
When Wil The Deal Be Finalized
Toshiba is looking forward to making the deal a success in the mid of this month, while the shareholders voting on the sale on 28 June.