Toshiba Sold It’s Electronics Department To A Chinese Company Hisense !


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



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