Troubled Japanese electronics giant Toshiba has downplayed media reports suggesting that it is poised to sell its personal computer business.
The news comes as media reports in Japan claim that the company is in talks to sell its PC manufacturing arm to Asustek Computer, best known under its Asus brandname. On Sunday, November 19, the company issued a statement rejecting these rumours.
Reuters reports that the company has looked into selling its PC business in a bid to help plug a gaping hole in in its finances and to avoid being de-listed from the Tokyo Stock Exchange at the end of its financial year in March 2018.
The PC business accounted for just 3.5% of Toshiba’s net revenue in April-September of ¥84.1 billion (US$747 million).
Hit by liabilities arising from its now bankrupt US nuclear unit, Toshiba has been plunged into financial crisis and agreed in September to sell its prized chip unit, Toshiba Memory, to a group led by Bain Capital for US$18 billion.
Full Content: Reuters