The South Korean chipmaker SK Hynix offers to invest 3 trillion won ($2,62 billion) in the chipmaking operations of the Japanese manufacturer Toshiba.

SK Hynix, the fifth-largest player in the global market for NAND flash memory, and Toshiba, number two in the market, are rivals but collaborate in the development of advanced memory products. According to Nikkei, the two companies want to strengthen their ties in an effort to catch its domestic rival, the top-ranked Samsung Electronics.

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