Sharp buys Toshiba its PC division
Sharp buys Toshiba its PC division at bargain prices: 31 million euros
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In 1985 Toshiba shone with a brilliant light: it launched its Toshiba T1100 laptop and showed the world the future. Today, 33 years later, the presence of this manufacturer in the PC world is very small, and barely sold 1.4 million PCs and laptops in 2017.
That seems to have been the trigger for an operation carried out by Sharp, which is part of the Foxconn group. The company buys 80% of the Toshiba division for 31 million euros, an almost ridiculous amount in the current times. Get ready for future desktops and laptops with the Sharp brand.
The operation will be completed on October 1, and mark Sharp's return to the PC market he had abandoned in 2010.
The Japanese company, controlled by Foxconn Technology Group since February 2016, believes that it will be able to turn around the Toshiba numbers, thanks mainly to the size of Foxconn's supply chain and, of course, to its production capacity.
In the last three years the sales of Toshiba's PC division have fallen by 75%: it withdrew from many markets, closed factories and outsourced production, which caused that of the 17.7 million equipment sold in 2011, in its best time, has passed to the aforementioned 1.4 million in 2017.
In Toshiba they suffered a lot after the bankruptcy of their unit for the construction of nuclear plants, Westinghouse Electric Co LLC, and managed to reach an agreement with the Canadian company Brookfield Business Partners for 4,600 million dollars. That helped him solve his red numbers and continue to keep his stock in the Tokyo stock exchange.
That restructuring has also led to the sale of almost all of its PC division, which Sharp will now control. The company also went through problems in recent years, but the purchase of Foxconn seems to have reactivated its ambition, and now it remains to be seen if this diversification to a market as complex as that of PCs works.
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