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Wednesday, March 01, 2017
Foxconn Is Bidding for Toshiba Chip Business


Terry Gou, founder and chairman of Taiwan's Foxconn Technology, confirmed that his company is bidding for the chip business of Toshiba and appeared confident it can buy into it.



Gou was speaking as Foxconn, formally known as Hon Hai Precision Industry, broke ground for a 61 billion yuan ($8.87 billion) flat-screen display factory in Guangzhou province, southern China.

Toshiba is considering selling the majority of its marquee flash-memory chip business, as it seeks to make up for a $6.3 billion writedown from its nuclear operations.

Gou declined to say how much of the Japanese company's chip business Foxconn was interested in.

"I cannot say we are for sure getting it, but we are very confident. We are also very sincere," Gou said.

Gou said Foxconn was open to teaming up with partners on any bid for Toshiba's chip business, adding anything was possible.

Toshiba wants to raise at least 1 trillion yen ($8.8 billion) in part by selling most of its flash memory chip business.



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