SEOUL - The world's second-largest chipmaker, South Korea's SK Hynix, on Tuesday announced a US$9 billion deal to buy Intel's flash memory chip operation as it seeks to bolster its position against rival behemoth Samsung Electronics.
In a regulatory filing, SK Hynix said it will acquire Intel's"entire NAND business division excluding the Optane division" for 10.3 trillion won, with Intel's factory in Dalian, China, included in the deal. The NAND and DRAM markets are both dominated by Samsung Electronics, and global chip demand has boosted profits for the two South Korean firms in recent years.
"With the deal, the company has firmly cemented its second-largest position in the global semiconductor industry," he added.The founding company of SK Hynix was originally part of the Hyundai group, one of the family-controlled conglomerates known as chaebol that dominate business in the world's 12th-largest economy.
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