Toshiba Corp. and IBM Corp. have agreed to cancel a memory chip production tieup in the U.S., and Toshiba will purchase all shares of a joint venture of the two firms by the end of next year, Toshiba officials in Tokyo said Wednesday.
Toshiba will acquire the ownership of Dominion Semiconductor L.L.C., based in Manassas, Va., to boost production of flash memories there, Toshiba officials said.
The move is part of Toshiba's strategy to shift its semiconductor production from dynamic random access memories -- the prices of which have dramatically fallen in recent years -- to more valued-added, non-DRAM products, Toshiba officials said.