⁍ The deal would allow SK Hynix to overtake Japan’s Kioxia as the No.2 player in the NAND memory market.

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⁍ The shift to work-from-home boosts demand for chips used in tablets and servers.

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– Intel is preparing to announce a $10 billion deal to sell its memory business to South Korea’s SK Hynix, sources tell Reuters, in a move that would put the South Korean firm at the No. 2 spot in the world’s memory market. Intel would sell its solid-state drive business in the US and a factory in Dalian, China, which produces advanced flash memory, the sources say. The deal would allow Intel to focus on its remaining memory business, Optane. The Wall Street Journal earlier reported that the deal could be announced as early as today in the US. Intel’s shares were up nearly 3% after the report. The deal would allow SK Hynix to overtake Japan’s Kioxia as the No. 2 player in the memory market, and narrow the gap with market leader Samsung Electronics as the shift to work from home boosts demand for chips used in tablets and servers. Samsung is the leader in the flash market with a 31.4% share, followed by Kioxia with 17.2%, SK Hynix with 11.7%, Intel and Micron with 11.5% each. With the deal, SK Hynix, part of South Korean conglomerate SK Group, would have a market share 23.2%, narrowing the gap with cross-town rival Samsung Electronics.