Toshiba Corp. said Tuesday it has agreed to sell its loss-making personal computer business to Sharp Corp. for 4 billion yen ($ 36 million) as part of its turnaround efforts.
Sharp will obtain an 80.1 percent stake in Toshiba Client Solutions Co., which manufactures the Dynabook line of laptops, and plans to sustain the brand name. They are aiming to complete the transaction on Oct. 1.
The move comes as Toshiba reviews its operations to achieve sustainable growth by focusing on its energy and infrastructure businesses.
On Friday, it completed the sale of its memory chip unit to a Japan-U.S.-South Korean consortium for 2 trillion yen. The Japanese conglomerate also sold its home appliance business to China’s Midea Group Co. in 2016.
Toshiba released the world’s first mass-produced laptop computer in 1985 and for a time had the biggest share of the global marker. But its PC sales have slumped amid competition from Chinese and other makers as well as the spread of smartphones.
Toshiba acknowledged improper accounting practices at the PC unit in 2015.
Sharp withdrew from the PC business in 2010. But since being acquired by Taiwan’s Hon Hai Precision Industry Co. in 2016, it has been looking to expand its reach.
The Japanese electronics maker posted its first group net profit in four years in fiscal 2017 ended March.
All – Kyodo News+