Milpitas

Samsung Electronics Co. said Wednesday it has withdrawn a $26 a share bid to acquire SanDisk Corp., but suggested it was still interested in buying the U.S. flash memory card maker at a lower price.

In a letter dated and released Wednesday, Samsung Vice Chairman and CEO Lee Yoon-woo informed SanDisk's board that "we are no longer interested in acquiring SanDisk at $26 a share."

The letter said the offer was being withdrawn "after nearly six months of efforts to pursue a transaction with no meaningful progress."

SanDisk is keeping good on its promise to bring music to its consumers. On Wednesday, the Milpitas, Calif.-based company, along with four music giants, said consumers this week can begin buying its SlotMusic microSD cards to be used in slot-enabled mobile phones, portable media players, computers and car stereos.

SanDisk's digital-rights management-free SlotMusic cards are preloaded with MP3 music from artists from Sony BMG Music Entertainment, Universal Music Group, Warner Music Group, and EMI.

A $5.85 billion bid by Samsung Electronics Co. to take over SanDisk Corp., a wounded competitor that also serves as a partner, reflects the turbulence in the market for flash memory, a key ingredient in digital cameras, music players and other devices.