Within a week of divesting of Memory business, Toshiba axed its PC business and sold it to Sharp over a deal that would fetch only $36 million, the Japanese electronics giant announced on its website.
Under the contract, Toshiba Corporation will transfer 80.1% of outstanding shares of personal computer business – Toshiba Client Solutions (TCS) – to Sharp Corporation.
Both the companies signed the share purchase agreement which is expected to be completed by October 1, 2018.
Once a market leader, the Tokyo-based multinational pioneered the first commercial laptop in 1985 and is currently manufacturing the notebooks under the brand-name ‘Dynabook’.
Toshiba PC sale tumbled to embarrassing 1.4 million units last year from its peak 17.7 million few years ago. As a result, the conglomerate logged a loss of about $79 million last year.
The Healthcare Systems & Services, the Home Appliances, the Westinghouse Nuclear Power, Memory, and PC businesses will now be classified as discontinued operations.
Sharp which is now owned by Apple’s supplier – Foxconn – is making a comeback in PC market after eight years. Taiwanese manufacturing conglomerate bought sharp for $3.6 billion two year ago.