ID :
356119
Wed, 02/04/2015 - 02:19
Auther :

Toshiba Seen Quitting TV Production

Tokyo, Feb. 4 (Jiji Press)--Japan's Toshiba Corp. <6502> is considering quitting its own television production in a bid to turn around its loss-making TV business, according to informed sources. Toshiba is in talks with foreign companies to sell TV plants in Indonesia and Egypt to strike a deal by April, the sources said. On Thursday, Toshiba announced a plan to phase out its overseas TV development and sales starting March. The company will focus on sales of superhigh-definition 4K TVs and other top-end models in Japan. Toshiba outsources most of TV production to foreign manufacturers. The sale of the Indonesian and Egyptian plants would mark the full end to Toshiba's TV production that has not been outsourced. In Japan, Toshiba will continue TV development for the Japanese market, the sources said. Toshiba sells some six million TVs per year. The TV business has incurred an annual operating loss of 25 billion to 50 billion yen in recent years in the face of stiff competition from rivals in South Korea and elsewhere. Hitachi Ltd. <6501> quit its own TV production in 2012. END

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