SK Hynix to buy Intel’s NAND memory chip business in $9bn deal

Seoul: The world’s second-largest chipmaker, South Korea’s SK Hynix, on Tuesday announced a $9 billion deal to buy Intel’s flash memory chip operation as it seeks to bolster its position against rival behemoth Samsung Electronics.

SK Hynix is already the world number two maker of DRAM chips, used in computers and servers, and the second-largest chipmaker overall.

But it has lagged in the market for flash memory — or NAND — chips, which are used in everyday devices such as smartphones and USB storage drives, as well as industrial and medical equipment.