Intel nears deal to sell NAND memory unit to South Korea's SK Hynix - WSJ

Credit: REUTERS/AMIR COHEN

Intel Corp is nearing a deal to sell its NAND memory-chip unit to South Korean chipmaker SK Hynix Inc for nearly $10 billion, the Wall Street Journal reported on Monday, citing people familiar with the matter.

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Oct 19 (Reuters) - Intel Corp INTC.O is nearing a deal to sell its NAND memory-chip unit to South Korean chipmakerSK Hynix Inc 000660.KS for nearly $10 billion, the Wall Street Journal reported on Monday, citing people familiar with the matter.

The companies are discussing a deal that could be announced as soon as Monday, the report said. Intel's shares were up nearly 3%.

NAND flash memory chips are used in portable storage devices like smartphones, tablets and solid-state drives.

Both the companies did not immediately respond to Reuters' requests for comment.

(Reporting by Ayanti Bera in Bengaluru; Editing by Maju Samuel)

((Ayanti.Bera@thomsonreuters.com; 646 223 8780 - 3401;))

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