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Toshiba to sell part of its memory business

Toshiba BG1 SSD with 3D NAND, Toshiba to sell part of its memory business
Toshiba BG1 SSD
Due to the cost overruns expected to reach several billion dollars incurred by its US nuclear business, the Japanese company is spinning off part of its flash memory division and selling a stake in the resulting business.

Toshiba is not doing great and has decided to separate its memory business from the main company by the end of March. The split includes the SSD business but leaves the image sensor business untouched. The reason behind this move is the need to cover the several-billion hole made by the company's US nuclear business.

According to a report by Reuters quoted by ZDNet, "The company has yet to decide which assets and liabilities will be split off, though it plans to sell less than 20 percent of the business." Toshiba's NAND flash memory business is world's second largest, making up most of the company's operating profit.

The plan has not been approved yet, since the company has to receive approval for it during a shareholder meeting scheduled for late March. Reuters has also unveiled that the Westinghouse division, which is responsible for the troubled nuclear projects that caused the major financial losses mentioned earlier, will come under direct CEO supervision.  

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2017 01 > Toshiba to sell part of its memory business
Codrut Nistor, 2017-01-28 (Update: 2017-01-28)
Codrut Nistor
Codrut Nistor - News Editor
Although I have been writing about new software and hardware for almost a decade, I consider myself to be old school. I always enjoy listening to music on CD or tape instead of digital files and I will not even get into the touchscreen vs physical keys debate. However, I also enjoy new technology, as I now have the chance to take a look at the future every day. I joined the Notebookcheck crew back in 2013 and I have no plans to leave the ship anytime soon.