Apple and Amazon 'Chip In Funds' to Help Foxconn Bid for Toshiba's Chip Business

Apple and Amazon 'Chip In Funds' to Help Foxconn Bid for Toshiba's Chip Business

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Apple and Amazon have joined Foxconn's bid for Toshiba's chip business, according to Nikkei Business Daily via Reuters.

In an interview on Monday, Foxconn Chairman Terry Gou said that the two companies plan to 'chip in funds'. It's unclear if the funds would be a direct investment or a financing of the deal.

"Foxconn can confirm that we have submitted a bid for Toshiba's chip business with a number of strategic partners," the Taiwanese firm said in a statement to Reuters. It plans to discuss details "at the appropriate time".

In April a report claimed that Apple is willing to spend billions to obtain a 'substantial stake' in Toshiba's chip business. The move would help the company secure a stable supply of memory chips for its devices.

Apple and Amazon declined to comment.

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Apple and Amazon 'Chip In Funds' to Help Foxconn Bid for Toshiba's Chip Business
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