Intel Corp. has reached a deal to sell its flash-memory manufacturing business to South Korea’s SK Hynix Inc. for about $9 billion, in a move that would reorient the semiconductor giant away from an area of historical importance that has become increasingly challenged. The Intel unit makes NAND flash memory products primarily used in devices such as hard drives, thumb drives and cameras. The U.S. chip maker has been weighing getting out of the business for some time, driven by sagging prices for flash memory.

Source: Wall Street Journal October 19, 2020 17:53 UTC