Hynix and US firm forge patent cross license deal

South Korea's Hynix Semiconductor, the world's second largest memory chipmaker, said Wednesday it has forged a patent cross-licensing and product supply deal with SanDisk of the United States.
Hynix said the agreement would help it settle patent suits in the United States. It follows a similar alliance announced Tuesday between the Korean firm and Japanese rival Toshiba which also settled a patent dispute .
The Korean company said it also agreed to set up a 50:50 joint venture with SanDisk to produce memory components and sell NAND memory system solutions. SanDisk is the world's largest supplier of flash data storage card products.