Toshiba (TOSBF.PK) plans to slash NAND flash memory production by 30% due to demand worries, The...

|About: Toshiba Corp. (TOSBF)|By:, SA News Editor

Toshiba (TOSBF.PK) plans to slash NAND flash memory production by 30% due to demand worries, The Nikkei reports. The report is helping NAND partner SanDisk (SNDK +2.8%) add to the big gains it saw on Friday thanks to its Q3 guidance, as investors hope Toshiba's move will lead to higher prices and lower capex. Solid-state drive vendor OCZ Technology (OCZ +1%) is also higher, though SanDisk/Toshiba rival Micron (MU -2.8%) is following the market lower.