Reuters - Video

Edition: US | UK | IN | CN | JP

video Finance Videos

Apple, Amazon to join Foxconn bid

Monday, June 05, 2017 - 01:00

The U.S. tech giants will join Foxconn's bid for Toshiba's big memory chip business, its chairman told the Nikkei business daily. Fred Katayama reports.

▲ Hide Transcript

View Transcript

Apple and Amazon want in on the bid for Toshiba's huge chip business. So says the chairman of their key parts supplier and assembler, Foxconn. Terry Gou told the Nikkei business daily that his company has financial support from the American tech giants in its bid for the memory chip unit. Gou said Apple and Amazon plan to "chip in funds," but it's unclear whether that means they want to get a stake in the business or help finance a deal. Apple and Amazon would not comment. Manhattan Venture Partners research head Santosh Rao said, "All these companies are looking at artificial intelligence, so I think they want to control a little bit of the high performance chips that go into these things." Foxconn, formerly known as Hon Hai Precision Industry, is teaming up with its Japanese electronics unit, Sharp, in its bid. Nikkei reports it's the top bidder so far with an offer exceeding $18 billion. But Foxconn has close ties to China, and Japan's government says it'll block any deal that would result in chip technology leaving the country.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Apple, Amazon to join Foxconn bid

Monday, June 05, 2017 - 01:00