Cypress Semiconductor announces NAND flash joint venture with SK hynix
Cypress Semiconductor announced that it has entered into a joint venture with SK hynix system ic, Inc. Under an agreement for an initial five-year period, the joint venture will manufacture and sell Cypress' existing single-level cell NAND products and will continue to invest in next-generation NAND products. The joint venture will be 60-percent-owned by SK hynix system ic and 40-percent-owned by Cypress, and it will be based in Hong Kong. Cypress will transfer its full portfolio of SLC NAND Flash memories to the joint venture. The 1Gb to 16Gb devices provide reliable data storage for communications, consumer, automotive and industrial applications. The products are available in compact packages to fit in small form factors, and they meet stringent quality standards, including AEC-Q100 automotive-grade quality. The implementation and launch of the joint venture is expected to take place in the first quarter of 2019, subject to applicable regulatory approvals having been obtained and other customary closing conditions.