South Korea's SK Hynix to buy Intel's NAND business for US$9 billion

CALIFORNIA: Intel has agreed to sell its NAND memory chip business to SK Hynix for US$9 billion in an all-cash deal that would propel the South Korean chipmaker to second in the global rankings.

The deal would allow Intel to focus on its remaining memory business, Optane, a person familiar with the matter told Reuters.AdvertisementThe Nand Flash industry grew in the April-to-June quarter thanks to robust demand for PCs and servers as the COVID-19 pandemic forced millions of people to work from home, according to market researcher Trendforce.

Samsung is the leader in the NAND flash market with a 31.4 per cent share, followed by Kioxia with 17.2 per cent, SK Hynix with 11.7 per cent, and Intel and Micron with 11.5 per cent each.

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