Western Digital Corp's subsidiary, SanDisk China, has entered into an Equity Purchase Agreement with JCET Management to sell a majority of the equity interest in SanDisk Semiconductor, forming a joint venture between the two companies. JCET will acquire 80% of the equity interest for $624 million, with payment made over five years. The transaction is expected to result in a reduction in annual operating expenses and capital expenditures for Western Digital.