Jan 27, 2017
Toshiba to sell slice of smartphone memory chip unit
Toshiba will unveil the size of the writedown next month, but some estimate it could be around $6bn. It is widely reported that 20% of the chip business will be sold off, and the firm is expected to confirm this later. Toshiba's chip business is the second biggest in the world after Samsung's, and has been valued at between $9bn and $13bn. Reports suggest Canon, Western Digital and the Development Bank of Japan could be potential buyers, though analysts expect Toshiba may be forced to accept a cut-price offer given its financial woes are well-publicised. Shares in Toshiba have fallen more than 45% since late December, when it revealed the problems in its nuclear arm, linked to a deal done by US subsidiary, Westinghouse Electric. Toshiba has been trying to slim down the business, including selling its profitable medical devices operations to Canon.
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