After closing 2015 with the worst record of its 140 – year history, which resulted in a loss of 4,500 million dollars and the dismissal of nearly 7,000 employees in its electronics division, the Japanese pioneer giant in the manufacturing of portable, Toshiba has decided to retire from computing business on March 31. From that day, all its commercial offices, including the US, Europe and Latin America will be closed.
Toshiba Says Goodbye To The Computer Market
Next to the computer market, Toshiba also abandoned its branch of medical equipment, where Canon has been already in talks with the company for acquisition. In 2014, the company had announced the closing of its manufacturing laptops. Toshiba was very successful years ago, but the arrival of new competitors, launch of interesting equipment, and the rise of tablets and smartphones hurt them greatly.
No doubt, it was something that was coming. In October 2015, Toshiba was almost bankrupt looking at nuclear power as their salvation. At the end of the month, the company sold its photographic division to Sony. In December, alarms sounded, it was discovered that the company had made a multimillion – dollar accounting fraud where the company overestimated between 2007 and 2014 its revenues 1,706,000 euros, which we now know has resulted in nearly 60 million euro fine.
The company has initiated a restructuring process where it will join with VAIO and Fujitsu to create a brand new desktops and laptops that seek to make a lot of noise in the market.