Remember Toshiba laptops? I think my first encounter with one was back in 100 level, and it looked a lot like this one:
Well, it looks like the Toshiba we know might soon be a thing of the past.
The company is selling 80% of its PC business to Sharp Corp. for $36 million, which is quite small if you ask me (To put things in perspective, Sharp Corp. was acquired by Foxconn for $3.5B).
You may recall that Sharp officially exited the consumer PC business in 2010, but it’s now looking to get back in with this acquisition.
So why did Toshiba sell?
For no other reason than the fact that they were not making profit — Toshiba’s PC operations recorded a total of 97 billion yen in operating losses over the past three fiscal years. Also, sales fell by 75% as the company withdrew from overseas consumer markets, shuttered factories and outsourced production.
However, the deal doesn’t mean a complete end for Toshiba.
“Following the share transfer, Toshiba will continue to provide brand licensing for PC products and equipment designed, manufactured and sold by [Toshiba Client Solutions Co.],” it said in the filing.
Foxconn, the parent company of Sharp Corp. has been trying to sell its own electronic products after years of assembling PCs for major brands like Acer, Dell, and Hewlett-Packard, so, you should expect to see Toshiba or Sharp-branded laptops in the coming years.
Ever owned a Toshiba or Sharp laptop?