Source: Tech – South China Morning PostYangtze Memory Technologies Co (YMTC), China’s top flash memory maker, has established a US$3 billion venture in its home city of Wuhan, capital of central Hubei province, as the company doubles down on next-generation NAND chips.
The new venture, led by YMTC chairman Chen Nanxiang, was incorporated last week with a registered capital of 20.7 billion yuan (US$2.9 billion), according to information from Chinese corporate data provider Qichacha. YMTC held a 50.2 per cent stake in the venture,…Read More