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6/5/2018, 1:01 AM (Source: TeleTrader)
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Toshiba to sell its PC business to Sharp - reports

Toshiba Corp. is planning to sell its personal computer business to Sharp Corp. for ¥5 billion ($45 million), Japanese media reported. According to unnamed sources, the deal could be signed soon, possibly even this week.

Toshiba has been looking for a buyer of Toshiba Client Solutions Co. as part of its reconstruction efforts after suffering massive losses. The company now plans to focus on energy and social infrastructure. Last week, Toshiba completed the sale of Toshiba Memory Corp., which makes NAND flash memory chips, to a Japanese – US – South Korean consortium. It also sold its home appliance business to Midea Group Co. in 2016.

Sharp withdrew from the PC business in 2010 but after being bought by Taiwan’s Hon Hai Precision Industry Co. in 2016, they are now looking to expand. Hon Hai is also known as Foxconn Technology Group.

Breaking the News / KP