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Home > News > Sword refers to cloud service? Toshiba Memory: May start M&A

Sword refers to cloud service? Toshiba Memory: May start M&A

With the increasing market share of Toshiba Memory's advanced storage products for data centers, the company said it is likely to start a good opportunity for mergers and acquisitions.

According to research firm IHS, Toshiba Memory is the world's second-largest manufacturer of NAND flash memory chips after Samsung Electronics and the third-largest SSD manufacturer after Intel.

Toshiba Memory Chairman Stacy Smith said, "As a data center participant, cloud services are a key area of ​​our concern, and we are very focused on increasing our share of the field."

Smith was the treasurer of Intel Corporation and he joined the Japanese company last October. "Over time, Toshiba Memory is likely to start mergers and acquisitions," Smith added.

Analysts said that Toshiba's previous concerns about smartphones and other consumer products have hurt its profits. Due to slow sales growth of smartphones and oversupply of chips, the company's operating loss from January to March this year was 28.4 billion yen ($263 million), compared with 54 billion yen in the previous quarter.

In addition, Toshiba Memory announced that it will be renamed Kioxia from October 1st. Kioxia is a combination of the Japanese word kioku and the Greek word axia. Kioku means "memory" and axia means "value".

Toshiba Memory originally planned to be IPO in September this year, but sources pointed out that it may be postponed until November, or 2020. Smith did not give a specific timetable for this, but he said that when the market conditions are correct, the company will be ready.

He also pointed out that since the oversupply situation has lasted for more than a year, the memory market will bottom out in the second half of this year, which echoes the views of other industry experts.

In the NAND flash market, analysts expect prices to rise due to the recent shutdown of the Toshiba memory plant. Although the Toshiba memory business has been restored, shipping will take several weeks to recover. Smith said: "The good news is that we have a reasonable amount of inventory that can be used to cushion the impact on our customers."