6
Western Digital to spin off flash business
(www.theverge.com)
This is the best summary I could come up with:
Western Digital is splitting into two companies: one for its flash business and another for its hard drive storage products.
The company announced the change alongside its earnings results on Monday, noting that spinning off its flash business will allow Western Digital to “realize its full value.”
However, as noted by The Wall Street Journal, this decision will effectively reverse the merger, allowing its flash division to operate as a standalone business.
“Our HDD and Flash businesses are both well positioned to capitalize on the data storage industry’s significant market dynamics,” Western Digital CEO David Goeckeler said in a statement.
“Given current constraints, it has become clearer to the Board in recent weeks, that delivering a stand-alone separation is the right next step.”
While Western Digital has been in talks to merge with Japanese flash memory maker Kioxia for years, the two companies reportedly scrapped their plans last week after an indirect Kioxia investor rejected the deal.
The original article contains 235 words, the summary contains 157 words. Saved 33%. I'm a bot and I'm open source!