Toshiba Bows Out of the Laptop Business for Good | Spurzine
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Toshiba Bows Out of the Laptop Business for Good

Japanese multinational conglomerate Toshiba has finally put a pin on the laptop business department, ending over 35-years of innovation last week.

Toshiba quietly made its exit last week transferring its remaining minority stake in its PC business to Sharp. Two years ago, Toshiba sold an 80.1 percent stake of its PC business to Sharp for $36 million, and Sharp renamed the division Dynabook.

Sharp exercised its right to buy the remaining 19.1 percent of shares back in June, and Toshiba released a statement August 4th that the deal was completed “As a result of this transfer, Dynabook has become a wholly-owned subsidiary of Sharp,” Toshiba said in a statement.

It has been a fun run for the Japanese company, whose laptops and PC’s had become a competitive brand in the market but now it’s time to close shop after realizing that the market isn’t as favourable as it was anymore.

The company made the first PC laptop in 1985: The T1100 boasted internal rechargeable batteries, a 3.5-inch floppy drive, and 256K of memory. ComputerWorld’s 20-year retrospective of the T1100 notes that Toshiba executives were unsure about the portable computer, but eventually came around, and began selling the T1100 for around $2,000.

During the 1990s and early 2000s, Toshiba was among the top PC manufacturers, but as more players crowded into the market and with fewer unique features to offer, Toshiba’s laptops waned in popularity. By the time it sold its stake to Sharp, Toshiba’s share of the PC market had dwindled from its 2011 peak of 17.7 million PCs sold to about 1.4 million in 2017, according to Reuters.

Toshiba says goodbye to the laptop business

Toshiba Corporation, which is headquartered in Minato, Tokyo offers diversified products and services which include power, industrial and social infrastructure systems, elevators and escalators, electronic components, semiconductors, hard disk drives, printers, batteries, lighting, logistics, as well as IT solutions such as quantum cryptography.

The Japanese company had been one of the biggest manufacturers of personal computers, consumer electronics, home appliances, and medical equipment, and was once in the top 10 when it came to the chip industry until the late 2010s.

In 2020, after facing a steep decline in laptop sales, Toshiba ceased manufacturing laptops after it sold 80% of its PC arm to Sharp.

Source: The Verge

 

Also read: Instagram Launches Copy Cat Reels to Steal Users from TikTok

 

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Author: Allan Bangirana

Allan Bangirana is a freelance writer for Newslibre & Spur Magazine. He is passionate about tech, games and occasionally writes about entertainment, lifestyle and so much more.

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