by Anton Shilov
09/05/2008 | 03:26 PM
Samsung Electronics, a leading maker of consumer electronics, reportedly intends to take over SanDisk Corp., a leading supplier of flash memory cards and other flash-based products. The deal would create numerous market opportunities for Samsung, though, it is unclear whether the transaction is actually needed.
South Korea-based Edaily has reported that Samsung Electronics is seeking to acquire SanDisk and that Samsung has chosen JP Morgan Chase & Co. as an advisor for the purchase of the world's largest flash memory card maker, reportsMarketWatch. No actual details are given presently, but the deal would create a massive player, particularly in the retail.
Samsung is one of the leading producers of flash memory and it does need channels to sell its products in the retail. However, flash memory cards or USB flash-based drives are considered as commodities nowadays and brand-name of the supplier is hardly truly important.
“SanDisk periodically has conversations with multiple parties, including Samsung, rgarding a variety of potential business opportunities. We evaluate all of these opportunities, but maintain a policy of not commenting on market rumors or speculation,” a statement by SanDisk reads.
Samsung did not comment on the report.