Sharp Corp is in talks to finalize a deal to buy Toshiba Corp’s personal computer business for around 5 billion yen ($45.7 million), as the Japanese electronics unit of Taiwan’s Foxconn seeks to re-enter the PC market, sources said.
The two companies are aiming to clinch the deal as early as this week, the sources close to the transaction said. They declined to be identified because the talks are private.
Sharp’s return to the PC market, first reported by the Nikkei business daily, marks a rare move among Japanese electronics manufacturers, many of which have exited smartphones, PCs and television sets amid price competition with Asian rivals.
Sharp, which withdrew from the PC business in 2010, plans to leverage the vast purchasing network of Foxconn, the world’s largest contract manufacturer and major Apple Inc supplier.
The Taiwanese company, formally known as Hon Hai Precision Industry Co Ltd, already assembles PCs for other global brands.
Toshiba’s PC business reported a loss of 9.6 billion yen on sales of 167.3 billion yen in the year ended March.
The embattled Japanese conglomerate has sold its television business to China’s Hisense Group and its white goods business to China’s Midea Group as it scrambles for funds to cover billions of dollars in liabilities arising from its now bankrupt U.S. nuclear unit Westinghouse.
Toshiba said in a statement the company was considering various options for its PC business and was in negotiations with potential buyers. But nothing specific has been decided, it added. Sharp declined to comment.
Latest Stories
-
Tony Fuah featured in National Anthology
5 minutes -
Ablekuma North rerun: NPP likely to lose to NDC – Global Info Analytics predicts low turnout
13 minutes -
“No standards, no trade”: FDA urges MSMEs to prioritise compliance for export and growth
22 minutes -
SME’s business needs business protection insurance: Safeguard your business from disasters
32 minutes -
St Augustine’s College dominates as Central Regional NSMQ championship kicks off with 19 schools
42 minutes -
Every effort must be made to revive Baba Yara Stadium – Sports Minister
44 minutes -
Oranges: A Fresh and Nutritious Choice this Season
46 minutes -
Mahama urges youth to lead fight against rising HIV infections
48 minutes -
Gov’t launches 3m coconut seedling distribution initiative to boost agricultural jobs and revive rural economies
50 minutes -
One injured in clash between Manso Mpatasie residents and National Security in illegal mining crackdown
52 minutes -
NDC deploys party machinery ahead of Ablekuma North re-run
57 minutes -
‘I had a strong start at Royale Union Saint-Gilloise, but I lost my form’ – Fuseini
60 minutes -
No building permit without toilet facilities, Mahama instructs Assemblies
1 hour -
Court dismisses NPP candidate’s bid to halt Ablekuma North rerun
1 hour -
Anti-corruption group urges overhaul of asset declaration laws, criminalise conflicts of interest
1 hour