South Korea's SK Hynix near deal to supply auto chips to Germany's Bosch - media

April 6, 2021 10:25 PM EDT

FILE PHOTO: The logo of SK Hynix is seen at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-Ji/File Photo


Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

SEOUL (Reuters) - SK Hynix Inc, the world's second-largest memory chip maker, is close to signing a long-term deal to provide automotive memory chips to German auto supplier Robert Bosch GmbH, South Korean newspapers reported.

The two companies are directly engaged in talks for SK Hynix to supply Bosch with auto memory chips for 10 years or more, Maeil Business Newspaper reported late on Tuesday, citing unnamed industry sources. The reports did not mention financial details.

SK Hynix declined to comment. Bosch did not have an immediate comment.

The South Korean company has memory chip supply partnerships with auto suppliers Continental and Hyundai Mobis, a source with knowledge of the matter said, declining to be identified as the agreements are confidential.

Companies globally are struggling to secure chip inventory due to an unprecedented shortage of semiconductors, forcing governments to introduce policies bolstering local chip industries.

(Reporting by Joyce Lee; Editing by Muralikumar Anantharaman)



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Reuters