Taiwan's Foxconn 'confident' to buy into Toshiba chip business

Toshiba is the second-biggest NAND chip producer after Samsung Electronics Co Ltd

Taiwan's Foxconn, the world's largest contract electronics maker, is "very confident" it can buy into the chip business of Japan's Toshiba Corp, company founder Terry Gou said on Wednesday.

Gou was speaking as Foxconn, formally known as Hon Hai Precision Industry Co Ltd, broke ground for a $8.87 billion flat-screen display factory in Guangzhou province, southern China.

He declined to say whether Foxconn had submitted a bid for Toshiba's chip business, nor how much of the business it was interested in.

"I cannot say we are for sure getting it, but we are very confident. We are also very sincere," Gou said.

"Money should not be the only thing (for Toshiba) to consider... We can help its technology to be sold in products all over the world. That is Foxconn's advantage."

He said as Foxconn was not a chip maker, there would be no anti-monopoly issues.

Industry watchers have said Foxconn, which last year bought control of Japan's Sharp Corp, may find it easier than other bidders to buy a stake as it is not a major memory chip maker and so could avoid any lengthy anti-trust review.

Toshiba is considering selling the majority - or all - of its marquee flash-memory chip business, as it seeks to fill a multi-billion-dollar hole in its nuclear business.

Toshiba is the second-biggest NAND chip producer after South Korea's Samsung Electronics Co Ltd.