March 8, 2017 / 6:49 PM / in 9 months

Foxconn approaches chipmaker SK Hynix for joint Toshiba bid: Nikkei

(Reuters) - Taiwan’s Foxconn 2317.TW, the world’s largest contract electronics maker, has approached South Korean chip maker SK Hynix Inc 000660.KS to explore a joint bid for Toshiba Corp’s 6502.T memory chip unit, the Nikkei reported, citing sources.

FILE PHOTO: The logo of Foxconn, the trading name of Hon Hai Precision Industry, is seen on top of the company's headquarters in New Taipei City, Taiwan March 29, 2016. REUTERS/Tyrone Siu/File Photo

Toshiba, the second-biggest NAND chip producer after South Korea’s Samsung Electronics Co Ltd 005930.KS, is considering selling the majority - or all - of its marquee flash-memory chip business, as it seeks to make up for a $6.3 billion writedown from its U.S. nuclear unit Westinghouse.

Foxconn, formally known as Hon Hai Precision Industry Co Ltd, said last week it was “definitely bidding” for Toshiba’s chip business and that it was “very confident” it could buy into it.

However an executive from SK Group, which controls SK Hynix, hinted that Foxconn did approach the Icheon-based company, the Japanese business daily reported. (s.nikkei.com/2m2rzsw)

Toshiba, Foxconn and SK Hynix did not immediately respond to requests for comment.

Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sriraj Kalluvila and Shounak Dasgupta

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