Japanese tech giant Toshiba, once well-known for its satellite line of heavy-duty laptops, has eventually decided to leave the laptop. The company has secretly sold Sharp its remaining 19.9 percent stake in its Dynabook laptop brand, formally withdrawing from the laptop.
“Toshiba Corporation hereby announces that it has transferred the 19.9 per cent of the outstanding shares in Dynabook that it held to Sharp Corporation. As a result of this transfer, Dynabook has become a wholly-owned subsidiary of Sharp,” the company said in a statement.
The Japanese tech giant sold nearly 80 per cent of its laptop company to Sharp in 2018, which is now selling computers under the name Dynabook.
However, the company has now sold the remaining stake to Sharp to exit the laptop market entirely and move its laptop business entirely to the Osaka-based firm.
The business agreement marks the end of the three-decade-old computer company approved by Toshiba for the world’s first mass-market laptop-Toshiba T1100, launched in 1985.
It was the first IBM compatible laptop on the market and is setting the stage for all the various devices that we currently have.
Toshiba came into the laptop market in 1985. It launched its range of Satellites to take on the ThinkPad series of IBM. The company outsourced its laptop production until 2015, when it started manufacturing new models at its China plant.
But Lenovo, HP, and Dell’s growth has made it harder for Toshiba to continue its business success.
Toshiba ‘s share of the PC market had fallen to around 1.4 million in 2017 from its high of 17.7 million PCs sold in 2011.