Key Points
TOKYO, Nov 14 (Reuters) - Japan's Kioxia on Tuesday reported a 100.8 billion yen ($664.5 million) operating loss in the second quarter as earnings were hit by a slump in demand for memory chips used in smartphones and personal computers (PCs)...
The result at Bain Capital-backed Kioxia, formerly Toshiba Memory, compares with a loss of 130.8 billion yen three months earlier...
While investment in artificial intelligence is expected to boost the chip industry, a rebound in demand for NAND flash memory used for data storage is less clear.. Selling prices have bottomed out, Kioxia said, pointing to expected higher shipments of smartphones and PCs next year...
Separately, Toshiba (6502.T), which holds a stake in Kioxia after selling its chip unit to the Bain-led consortium in 2018, posted a 26.7 billion yen net loss in the second quarter...
