Toshiba Chops Outlook; Would It Really Bid for SanDisk?
In case you happen to think that Toshiba is going to outbid Samsung for SanDisk (SNDK), you ought to take note of the company’s currently grim view of the NAND flash memory market.
In fact, as Bloomberg reports, Toshiba today cut its full-year net income forecast for the March 31, 2009, fiscal year by 46 percent to 70 billion yen, which would be a four-year low. The company also cut its sales projection by 3.8 percent to 7.7 trillion yen, and its operating profit forecast by 48 percent to 105 billion yen.
Toshiba is the world’s second-largest producer of NAND flash memory chips. The company said its semiconductor division will lose 65 billion yen for the year due to weak NAND pricing.