Toshiba is selling off part of its memory business

Toshiba on Friday officially announced it will sell a portion of its flash memory business, including the SSD business of the Storage & Electronic Device Solutions Division, to a not-yet-named buyer.

The company, which invented NAND flash in the early 1980s, announced last week it was exploring spinning off its memory business. A Nikkei’s Asian Review said Toshiba had been considering spinning off its semiconductor operations and selling a partial stake to Western Digital (WD), “as it tries to cope with a massive impairment loss in its U.S. nuclear power unit.”

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