Intel Near Deal to Sell Storage Unit to SK Hynix, WSJ Says
- Intel reported to sell Nand flash group for about $10 billion
- Chipmaker has fallen behind in chip manufacturing processes
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Intel Corp. is nearing a deal to sell its Nand memory unit to South Korea’s SK Hynix Inc. for about $10 billion, part of a broader effort by the U.S. chipmaker to concentrate on its main business, the Wall Street Journal reported.
The unit makes flash memory components for computers and other devices. Since taking over as Intel chief executive officer in 2019, Bob Swan has looked to sell several units that aren’t part of the company’s focus on processors for personal computers and servers.