Toshiba signs deal with Bain-Apple group for sale of memory-chip business

Toshiba signs deal with Bain-Apple group for sale of memory-chip business [ad_1]

TOKYO - Toshiba and a consortium led by Bain Capital Private Equity signed a deal Thursday for the sale of the Japanese electronics company's computer memory chip business, a move long opposed by Toshiba's US joint venture partner Western Digital.

The consortium includes Apple Inc. and Dell Technologies Capital as U.S. investors, who will not acquire common stock or voting rights over the business. The sale of Toshiba Memory Corp. is priced at 2 trillion yen ($18 billion).

The deal was widely expected as Tokyo-based Toshiba Corp., which also has railroad and nuclear energy units, had announced it earlier, and the board signed off on it last week.

Apple iPhone X, iPhone 8, iPhone 8 Plus in India: Price, availability and more

Apple iPhone X, iPhone 8, iPhone 8 Plus in India: Price, availability and more

Apple has just refreshed its iPhone lineup. The company launched three new iPhones -- iPhone 8, iPhone 8 Plus and its tenth anniversary iPhone dubbed iPhone X. All three new iPhones were launched at an event held in the company's new Apple Park campus, also called 'spaceship' campus. Apple iPhone 8 and iPhone 8 Plus are successors to the company's year 2016 iPhone models (iPhone 7 and iPhone 7 Plus). Here's looking into the India pricing, availability and other details of the three new iPhones ...

iPhone X price in India starts at Rs 89,000

Apple iPhone X comes in two storage variants, 64GB and 256GB. While the 64GB iPhone X is priced at Rs 89,000 in India, its 256GB variant sports a price tag of Rs 1,02,000. This makes iPhone X Apple's most-expensive iPhone launched so far.

iPhone 8 price in India starts at Rs 64,000

Just like iPhone X, iPhone 8 too comes in 64GB and 256GB variants. The price for 64GB variant in India is Rs 64,000 and that of 256GB is Rs 77,000.

iPhone 8 Plus price in India starts at Rs 73,000

The big-screen variant of iPhone 8, the iPhone 8 Plus too comes in the same storage variants -- 64GB and 256GB. The iPhone 8 Plus' 64GB variant is priced at Rs 73,000. The 256GB variant has been priced at Rs 86,000.

iPhone 8, iPhone 8 Plus pre-orders in India to start on September 22

The pre-orders for iPhone 8 and iPhone 8 Plus will start in India on September 22. This is a week later than the day they go on pre-order in the US and some other nations. While Apple has not officially announced the pre-booking dates, its distributors Redington and Brightstar have said that both iPhone 8 and iPhone 8 Plus will be available for pre-bookings from September 22 onwards.

iPhone 8, iPhone 8 Plus India launch date: September 29

Both Apple iPhone 8 and iPhone 8 Plus will hit the retail shelves in India on September 29, a week after their launch in the US.

iPhone X India launch date: November 3

The pre-bookings for iPhone X in India will start on October 27, along with 55 other countries across the globe. The sales will start on November 3. This is the first time that an iPhone is launching in India in the first wave.

iPhone 8, iPhone 8 Plus biggest feature is wireless charging

With iPhone 8 and iPhone 8 Plus, wireless charging has finally come to iPhones. iPhone 8 Plus also boasts of dual-camera set up at the back. Both the cameras are 12MP and support OIS. The wireless charging in the new iPhones uses a standard called Qi, the same that is also used by Samsung Electronics.

iPhone X biggest feature is its bezel-less display and FaceID

Apple iPhone X is the only iPhone launched so far to sport an OLED display. The smartphone features Apple’s highest resolution phone display: 2436 x 1125 pixels at 458 pixels per inch density (ppi). Apple iPhone X will use your face as the password to unlock the device and authenticate apps. The TouchID has been replaced by FaceID. iPhone X uses 3D-sensing-powered facial recognition technology in place of the fingerprint sensor.

But Western Digital has repeatedly opposed the sale of the NAND flash-memory SanDisk joint venture, stressing it will continue with legal action. Toshiba reiterated in a statement that it will go ahead with the deal, despite any litigation or moves by Western Digital to block the deal.

Other participants in the consortium include SK Hynix of South Korea, which will invest 395 billion yen ($3.5 billion).

The U.S. investors, which also include Kingston Technology Corp. and Seagate Technology, will invest 415.5 billion yen ($3.7 billion).

But the Japanese companies will hold more than 50 percent of the common stock in the consortium's special company, called Pangea, which also plans to get 600 billion yen ($5.3 billion) in loans.

Innovation Network Corp. of Japan and the Development Bank of Japan have also expressed interest in putting money into Pangea, Toshiba said.

The share transfer will close by the end of March next year, it said.

Toshiba has been battered by massive losses related to its U.S. nuclear operations at Westinghouse Electric Co., which filed for bankruptcy earlier this year.



Toshiba's massive red ink began with reactors it has been building in the U.S. which are still unfinished, partly because of beefed-up safety regulations following the 2011 Fukushima nuclear disaster in northeastern Japan.



Toshiba's earnings reports initially failed to get endorsements from its auditors, meaning that it could have been delisted. But the auditors finally signed off in August after an investigation that centered on whether Toshiba had known in advance about the losses that emerged related to Westinghouse's acquisition of CB&I Stone & Webster, a nuclear construction and services business.



Toshiba's main responsibility ironically now consists of keeping under control and decommissioning the Fukushima Dai-ichi nuclear plant, where three reactors sank into meltdowns after a massive earthquake and tsunami in 2011.

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