Intel & Micron To Launch Joint NAND Flash Venture
Intel and Micron Technology are launching a joint venture to produce NAND flash memory, with Apple Computer prepaying $500 million to secure its place in line for the popular technology, the companies said Monday. Big news for both Intel and Micron here!
Intel will own 49 percent of the new company, IM Flash Technologies, with the remaining controlling stake held by Micron. Intel and Micron will each initially contribute $1.2 billion to building plants in Idaho, Utah and Virginia, with plans to add another $1.4 billion each over the next three years. The joint venture is expected to be finalized by the end of the year. Apple plans to prepay $500 million to Intel and Micron as part of its $1.25 billion commitment to prepay for NAND flash memory to five chipmakers. The other three chipmakers are Hynix Semiconductor, Samsung Electronics and Toshiba. This prepayment over the next three months will translate into securing NAND memory through 2010, Apple said Monday.
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