Foxconn founder: 'Still a chance' to buy Toshiba chip arm

The chairman of Foxconn says there is "still a chance" the Taiwanese electronics giant might be able to buy Toshiba's memory chip business despite the Japanese company's choice of another bidder as its preferred buyer.

Terry Gou, whose company is best known as the assembler of Apple's iPhones and other electronics, said Thursday the Toshiba board's choice of a U.S.-Japanese consortium is "not a done deal."

At a meeting of shareholders, Gou said "It is not a done deal yet. I believe there is still a chance for Foxconn."

Toshiba is trying to sell the chip unit to raise cash due to losses by its U.S. nuclear power unit, Westinghouse Electric Co.