Western Digital earlierAnnounce, with the approval of the board of directors, the flash memory business will be split off and separated to promote its business in a more efficient manner.
This decision follows the recent failure of its acquisition of Kioxia and the cancellation of the acquisition agreement last week. The company believes that separating its hard drive and flash memory businesses will generate greater market benefits.
Western Digital's flash memory business currently stems primarily from its $2016 billion acquisition of SanDisk in 160, and has already launched a diverse product lineup under Western Digital.
After reviewing the company's future development plans and deciding to split its hardware and flash memory businesses, Western Digital expects to complete the split as early as the second half of 2024.
Prior to this, Western Digital became the world's fourth-largest flash memory company by acquiring SanDisk. It had originally planned to expand its business through the acquisition of Kioxia and thereby compete with Samsung and other companies. However, it was opposed by South Korea's SK Hynix, an indirect investor in Kioxia, which led to the collapse of the acquisition agreement.
