US: Apple and Dell join Foxconn bid for Toshiba’s chip unit

Foxconn has lined up several high-profile US technology firms to join its bid for Toshiba’s memory chip unit.

Apple and Dell are among the firms involved in the consortium, said Foxconn chief executive Terry Gou.

Foxconn, the world’s biggest contract electronics manufacturer, makes the iPhone for Apple.

Mr Gou said Amazon could also come on board, while talks continued with Google owner Alphabet, Microsoft and Cisco Systems.

It was not clear how much Foxconn planned to offer for the division, which analysts have valued at about US$18bn.

Earlier this year it was reported that Foxconn could offer as much as US$27bn for the unit. It was not clear why the potential bid was so much higher than its mooted value.

Toshiba is selling some or all of its chip unit to cover huge losses in its nuclear division, Westinghouse Electric, which has filed for bankruptcy.

It was the latest headache for the Japanese conglomerate. In 2015, Toshiba’s chief executive resigned after the firm said it had overstated profits for years. It is also set to post another annual loss.

Full Content: Reuters

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