Western Digital is spinning off its flash memory business as sales decline
Western Digital is splitting into two companies: one for its flash business and another for its hard drive storage products. The company announced the change alongside its earnings results on Monday, noting that spinning off its flash business will allow Western Digital to “realize its full value.”
Western Digital acquired flash memory manufacturer SanDisk for nearly $19 billion in 2016. However, as noted by The Wall Street Journal, this decision will effectively reverse the merger, allowing its flash division to operate as a standalone business. The separation is expected to take place in the second half of 2024.
“Our HDD and Flash businesses are both well positioned to capitalize on the data storage industry’s significant market...