Toshiba becomes Hisense!!!

Soprano

Village Elder
#1
Toshiba sells its electronics department to Hisense
the Nikkei Asian Review. The Japanese company will sell a 95 percent stake in Toshiba Visual Solutions to Hisense Electric for $113.6 million. Toshiba will keep a 5 percent stake.

Toshiba is struggling hard after its US nuclear department filed for bankruptcy in March. It has sold other parts of its business to stay afloat, including its dishwasher and washing machine appliance branch to China’s Midea Group. The Visual Solutions subsidiary, in particular, had reported a net operating loss of $54.1 million in the last fiscal year.

The company that will buy Toshiba Visual Solutions has a bit of a rumored checkered past as well. Hisense happens to be the same company that Japan’s Sharp Corp. sued this past June in San Francisco courts. In the suit, Sharp alleged Hisense sold subpar Sharp TVs that devalued the brand, falsely advertised the screen size and brightness of Sharp branded TVs, and produced TVs that emitted harmful excess radiation. Sharp ultimately dropped the lawsuit.

Hisense’s relationship with Sharp may have fallen apart, but this new acquisition of Toshiba could bode well for the Chinese company and result in a lot more 4K laser TVs. The deal is expected to be completed by February at the earliest, so don’t expect to see any new products at this upcoming CES — where new TVs are typically announced — just yet.
 

patco

Village Sponsor
#9
I thought this was small news on nhk business news. kumbe mko macho hivo? It's the digital tv division known as Toshiba Regza that was sold not electronics division. And Toshiba allowed hisense to use the Toshiba Regza brand name for the next 10 years. Japanese firms are selling like crazy.
 

Koolibah

Village Sponsor
#10
I know quite a number of Kenyans who can afford $100M, why cant they buy these companies? What do I know?

I will lead Kenya's industrial revolution.
 

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