Bronx, United States, Aug 11, 2020, 06:30 /Comserve / -- Laptop pioneer Toshiba, has now officially exited the laptop business after 35 years by selling its remaining 19.9% of its shares to Sharp Corporation, a subsidiary of ODM Foxconn.
Tokyo, August 10, 2020: Laptop pioneer Toshiba, has now officially exited the laptop business after 35 years by selling its remaining 19.9% of its shares to Sharp Corporation, a subsidiary of ODM Foxconn. Earlier in 2018, the Japanese-based company sold its 80.1% of its stake to Sharp Corporation for a market value of USD 36 million. Sharp currently sells laptops under the name ‘Dynabook’.
Toshiba is a well-known Japanese company that was known for its satellite range of notebooks. It launched its first IBM compatible notebook laptop ‘T1100’ in the year 1985 and ruled the PC business until brands like Asus, Dell, Apple, Lenovo and HP entered the market. With the entry of these brands which provided thin, compact, light and powerful laptops, Toshiba was not able to compete and cope up with what the end-users wanted. As the year 2000 progressed, Toshiba devices became bland in comparison to the ever-impressive ThinkPad and the MacBook Air laptops, while Dell and HP also improved significantly. This made Toshiba a less desired brand over the year which resulted in selling its PC business to Sharp.
Sharp is an Osaka-based multinational corporation wholly controlled by Taiwan based iPhone assembler Foxconn Technology Group which was formally known by the name Hon Hai Precision Industry Co Ltd. After acquiring a majority of stake, on June 30, 2020, the Osaka-based company exercised its right to buy the remaining 19.9 percent of Dynabook shares which it did not already hold. Toshiba did transfer those shares and announced the transaction on Thursday i.e., 6th August 2020. With this acquisition, Dynabook is now a wholly-owned subsidiary of Sharp Corporation.
Earlier, Toshiba discussed a possible alliance with Fujitsu and the Sony-spin-off Vaio but these talks failed. When Fujitsu and NEC sold their laptop business to Lenovo, Toshiba became one of the last independent Japanese-based PC manufacturers, alongside Vaio and Panasonic.
About Toshiba
Toshiba Client Solutions Co. Ltd. is headquartered in Minato, Tokyo. It deals in manufacturing of diversified products including electronic components, elevators, escalators, power systems, etc.
About Shark Corporation/Foxconn
Shark is a multinational Japanese corporation majorly owned by Foxconn group. It is headquartered in Sakai, Osaka. It deals in designing and manufacturing of electronic products.
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