Hynix, Toshiba to co-develop next-generation memory chip

SEOUL, July 13 (Yonhap) -- South Korean chip giant Hynix Semiconductor Inc. said Wednesday that it agreed with Toshiba Corp. of Japan to jointly develop and produce next-generation memory chips.
Under the partnership, Hynix and Toshiba will co-develop magnetoresistive random access memory (MRAM), which features enhanced speed and efficiency compared to existing memory devices, Hynix said in a statement.
The two will set up a joint MRAM-making venture for mass production once they complete development.
Hynix is the world's second-largest maker of dynamic random access memory (DRAM) chips after Samsung Electronics Co. Japan-based Toshiba is the No. 2 maker of NAND flash memory chips.
The collaboration will bring together Toshiba's advanced technology in MRAM and Hynix's competitive costs and memory technology, it said. Toshiba is also the world's No. 3 semiconductor player after Intel Corp. and Samsung.
MRAM chips are expected to be adopted in the mobile market in the early stage and used for PCs and servers.