Apple pre-pays $500 mln to Toshiba in supply deal | india | Hindustan Times
Today in New Delhi, India
Aug 24, 2017-Thursday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Apple pre-pays $500 mln to Toshiba in supply deal

Apple Inc entered into a long-term supply agreement with Toshiba Corp for flash chips, making a $500 million prepayment to the loss-making Japanese chipmaker, a transcript of Apple's conference call with analysts showed.

india Updated: Jul 22, 2009 13:48 IST

Apple Inc entered into a long-term supply agreement with Toshiba Corp for flash chips, making a $500 million prepayment to the loss-making Japanese chipmaker, a transcript of Apple's conference call with analysts showed.

The deal is a boon for the world's No.2 maker of NAND flash chips, which is grappling with sluggish chip prices and competition against bigger rival Samsung Electronics Co Ltd of South Korea.

The $500 million pre-payment is equivalent to about one quarter's worth of Apple's demand for NAND flash chips, sources said.