Apple considering multi-billion dollar investment in Toshiba chip unit

appleCALIFORNIA: Apple Inc is considering investing at least several billion dollars in the chip business put up for sale by Toshiba Corp, public broadcaster NHK reported, citing an unidentified source.

Apple wants to take a stake of more than 20% in Toshiba’s chip business, while convincing Toshiba to maintain a partial stake to keep the business under US and Japanese control to allay the Japanese government’s concerns, the report said.

Appls is considering a plan in which Taiwan’s Foxconn would also own a stake of around 30% in its bid, it added.

Toshiba is now in the process of selling its memory chip unit to raise cash to cover writedowns at US nuclear unit Westinghouse that have plunged it into crisis.