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Toshiba exits from the laptop business, transfers stake to Sharp

Toshiba has announced its exit from the laptop business. The company has ended its 35-year-old laptop business and has transferred its remaining minority stake in its PC business to Sharp.

Toshiba sold 80.1% of its stake in the PC business to Sharp two years ago for $36 million. After this, Sharp renamed the division as Dynabook. Now, Sharp has exercised its right to buy the remaining 19.1% of shares and Toshiba also released an official statement after the completion of the deal.

“To Sharp 80.1% of the outstanding shares of Toshiba Client Solutions Co., Ltd (hereinafter TCS), then Toshiba’s wholly-owned subsidiary in the personal computer business. That transfer closed in October 2018, and TCS changed its name to Dynabook in January 2019. On June 30, 2020, under the terms of the share purchase agreement, Sharp exercised a call option for the remaining outstanding shares of Dynabook held by Toshiba, and Toshiba has completed procedures for their transfer,” said Toshiba in a statement.

Toshiba marked the entry into the PC segment by making its first PC in 1985 named T1100. The device came with interchangeable batteries, 256K memory, and a 3.5-inch floppy drive. At that time the Toshiba T1100 was launched at $2,000.

Toshiba was amongst the top PC manufacturers during the period of 1990 and early 2000.

Meanwhile, according to the recent IDC report, the global PC market has grown 11.2% year-on-year. The second quarter of 2020 saw a growth of 11.2% in the global shipments reaching a total of 72.3 million units.

Jitesh Ubrani research manager for IDC’s Mobile Device Trackers, said, “The strong demand driven by work-from-home as well as e-learning needs has surpassed previous expectations and has once again put the PC at the centre of consumers’ tech portfolio. What remains to be seen is if this demand and high level of usage continue during a recession and into the post-COVID world since budgets are shrinking while schools and workplaces reopen.”-The Times Of India

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