Intel to sell NAND memory business to SK Hynix

Intel and SK Hynix announced on October 20 that they have signed a contract to acquire Intel’s NAND memory and storage business for $9 billion by SK Hynix.

It includes the NAND SSD business, the NAND component and wafer business, and the NAND memory production plant in Dalian, China. However, the Optane-related business will continue to be owned by Intel.

The two companies are currently in the phase of an agreement on the sale and are expected to obtain regulatory approval in late 2021. Intel sold the smartphone modem business to Apple in 2019, but the sale of the NAND business can be done after a business arrangement. In a statement, Intel said in a statement that it will invest profits from the sale, seeing that it will be able to prioritize investments in differentiated technologies through this transaction, and will promote artificial intelligence, 5G networks, and edge products. Related information can be found here .