Intel Agrees to Sell Storage Unit to SK Hynix for $9 Billion
- Deal may help U.S. company focus on main processor business
- U.S. chipmaker has fallen behind in a manufacturing race
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Intel Corp. agreed to sell its Nand memory unit to South Korea’s SK Hynix Inc. for about $9 billion, a deal that allows the U.S. chipmaker to concentrate on its main business while shoring up the Asian company’s position in a booming market.
The chipmaker will pay 10.3 trillion won for the Intel unit, which makes flash memory components for computers and other devices. The acquisition, which will take place in stages through 2025, includes Intel’s solid-state drive, Nand flash and wafer businesses, as well as a production facility in the northeastern Chinese city of Dalian.