Apple bids for Toshiba, As we write this, the current media excitement is over this season’s bids for footballers. At this juncture we could pretend to actually know the names of said footballer and who is hoping to transfer where, but we work in tech – and not to conform to clichés or anything, but right now we are far more focused on the release of the Apple Watch 3 and iPhone 8.
However, football doesn’t quite have its usual monopoly over bidding this news cycle, because Apple has entered the fray. Yes, Apple is looking to expand and has joined a group of companies led by investment firm Bain Capital in a £14 billion last hope effort to revive Toshiba’s chip unit.
Toshiba has been desperately trying to sell its flash memory unit to cover billions of pounds worth of losses at its bankrupt US nuclear business.
Toshiba is currently the world’s second largest producer of NAND memory chips, which are used in smartphones and computers and if Apple were able to buy into the company, the benefits would be twofold. Firstly, it would help reduce its reliance on market leader Samsung…boo (we joke) – who currently produce chips for the iPhone, iPad and a whole host of other Apple devices. It would also help Apple manage prices of components for its iPhone so basically it’s a win-win for everyone involved.
Apple wasn’t actually originally involved in the bid – however, they have been bought to help improve the chances of success as Toshiba and Western Digital struggled to find a workable deal for both parties, which has seen Apple join forces with Bain and South Korean chipmaker SK Hynix, state baked investors Innovation Network Corporation of Japan and Development Bank of Japan as well as a whole host of others to offer 2tn yen (£14 billion) for the company. Apple will be responsible for around 400 billion yen (£3.63 billion), giving it a decent share of the company. This bid far outstrips the Western Digital-led consortium who are only offering a measly 1.9 trillion yen (pocket change really), although rumours have it they are trying to get their proposal up to 2tn yen.
If #teamapple do win (as we are deciding to call the Bain consortium) it could help Apple far more quickly reach its target of creating devices with far more storage. Most excitingly, this includes iPhones that could have up to 512 GB of storage, a phenomenal level of memory which beats most laptops. So for the future of Apple give us an A-P-P-L-E.
#teamapple you have our vote.
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