Western Digital is spinning off its flash memory business as sales decline

Western Digital is splitting into two companies: one for its flash business and another for its hard drive storage products. The company announced the change alongside its earnings results on Monday, noting that spinning off its flash business will allow Western Digital to “realize its full value.”

“Our HDD and Flash businesses are both well positioned to capitalize on the data storage industry’s significant market dynamics,” Western Digital CEO David Goeckeler said in a statement. “Given current constraints, it has become clearer to the Board in recent weeks, that delivering a stand-alone separation is the right next step.”