E-Paper
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.
Updated on: Jul 22, 2009, 13:48:07 IST
Share via
Copy link
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.
Get the latest India News, breaking headlines and real-time updates from across the country. Stay informed about politics, government policies, crime, weather and major national developments.
