Toshiba Sold It’s Electronics Department To A Chinese Company Hisense !
Toshiba just signed a deal with the Chinese company Hisense, where they sold their electronics department, the Toshiba Visual Solutions to Hisense. Well, not 100 percent of their stake but 95 percent of it’s stake will be occupied by Hisense. The rest 5% will be kept by Toshiba. The total price Hisense has to pay for this deal is 113.6 Million US Dollars.
If you have never heard of Hisense, they’re a Chinese Electronics Company that already has a range of electronic products including Smartphones. It’s recent history has been a little messed up as Sharp sued it to the courts a few months ago. But whatever, getting the Power of Toshiba may actually help them quite a bit to expand their capabilities into the Tech Industry.
Toshiba was also going through several losses in their electronic product line. In the last fiscal year, they have reportedly faced a loss of 54.1 Million US Dollars just because of subsidies. So, maybe it’s a wise step for them to sell that particular Toshiba Visual Solutions part to Hisense. This will probably translate to a larger production of 4K Laser Televisions but, as the deal will fully complete by February 2018, we’ll not see any of these TV announcements during this CES.
Via: The Verge