Toshiba exits PC business & transfers remaining 19.1% stake to Sharp
Category: #world  By Saipriya Iyer  Date: 2020-08-12
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Toshiba exits PC business & transfers remaining 19.1% stake to Sharp

Toshiba, a Japanese multinational conglomerate, has reportedly made an exit from the laptop business and transferred its remaining minority stake in the PC business to Sharp. This will mark the company’s termination of its 35 years of functioning in the laptop business landscape.

Two years back, the Japanese conglomerate had sold an 80.1% stake of its PC business for $36 million to Sharp. Following this, Sharp renamed the division as ‘Dynabook’ in January 2019. The electronic product provider, Sharp, has exercised rights to obtain the remaining 19.1% stake in Toshiba. After the completion of the deal, Toshiba released an official statement regarding the acquisition of its remaining stake by Sharp.

As per the reported statement made by Toshiba, Sharp had exercised a call option to obtain the remaining stake in the company under the terms of the recent share purchase agreement on June 30th, 2020. It also has reportedly completed the procedure to transfer the remaining shares to Sharp.

Toshiba, which was among the list of the top PC manufacturers between 1990 to early 2000, had made an entrance in the PC business segment by launching its PC, known as T1100, in 1985. The batteries of this PC were interchangeable, and it also came with 256k memory and a floppy disk drive of 3.5 inches. The company had marketed this product at the price of $2,000.

As per recent reports, the global PC market has recorded an increase in growth rate by 11.2% Y-o-Y (year-on-year). The industry has registered an 11.2% hike in global shipments in the Q2 of 2020, reaching 72.3 million units in total. People with knowledge of the matter have stated that the high demand for PC across the globe can be attributed to the ongoing work-from-home trend due to the COVID-19 outbreak. There have also been rising e-learning needs, which put PC at the center of the tech portfolio of customers.

Source credit:

https://www.gadgetsnow.com/tech-news/toshiba-exits-from-the-laptop-business-transfers-stake-to-sharp/articleshow/77461055.cms



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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