Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Intel agrees to sell memory unit for $9 bln

10/20/2020 | 01:56am EST

Intel has agreed to sell off a chunk of its business for about $9 billion dollars, handing the unit that makes flash memory used in devices like thumb drives over to South Korean chipmaker SK Hynix.

Intel is better known for making processors, the 'brain' of a computer.

Selling off a memory unit is Intel's latest move to leave behind its non-core businesses.

And the deal will make SK Hynix the second-largest flash memory maker in the world after Samsung.

They're gaining Intel's businesses in solid-state drives, NAND component and wafers, as well as its factory in Dalian, China.

SK Hynix's gain comes on the heels of a boost in the memory industry, growing in the months from April to June as millions worked from home.

Intel said it intended to invest the proceeds of the transaction to deliver leadership products and advance its artificial intelligence and 5G networking.


Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
INTEL CORPORATION 0.73% 47.78 Delayed Quote.-20.72%
SK HYNIX, INC. 2.26% 99400 End-of-day quote.5.63%
Latest news "Economy & Forex"
12:01pS&P Global to buy IHS Markit in $44 billion mega deal
RE
11:57aIMF INTERNATIONAL MONETARY FUND : Executive Board Concludes Second Post-Program Monitoring Discussions with Greece HTML File
PU
11:56aAMAZON COM : Cyber Monday set to be biggest online shopping day in U.S. history
RE
11:55aOil prices down 1% as OPEC+ debates 2021 output policy
RE
11:53aBulgaria expects small fiscal deficit through November
RE
11:51aDutch government says 2020 debt-to-GDP to hit 57.4% due to coronavirus support
RE
11:50aBitcoin hits all-time record as 2020 rally power on
RE
11:45aCanary Islands see tourism improving in 2021, but still far below pre-pandemic levels
RE
11:39aFed says extending four emergency liquidity programs to March 31, 2021
RE
11:38aU.S. imposes Venezuela-related sanctions targeting Chinese firm
RE
Latest news "Economy & Forex"