Bad times at Toshiba are here to stay, it seem. The company has decided to bow out of the TV and PC business, both of which were underperforming for the Japanese technology giant.
This follows a rough summer for Toshiba, which was rocked by an accounting scandal this summer.
The company provided false financial reports to the Japanese government, inflating its gains by $1.3 billion in the last couple of years. This was done following the Fukushima disaster, but the forgery was soon discovered and made public.
Leading to former CEO Hisao Tanaka to quit the company last month, along with eight senior executives.
With the entire upper echelon of the company now gone, the scandal is proving to be the end of Toshiba as we know it — or as the computing industry knows it.
As reported by Reuters, Toshiba may fire its entire staff involved in the TV and PC business. This is, according to the new CEO, Masashi Muromachi:
“The latest accounting problems might have been driven by the fact that some of our businesses have lost earnings power. We must urgently take action in these businesses.”
Not too hard to see what he is referring too with urgent action, most possibly a mass stay layoff.
The company is now focused on honoring its contracts with the Japanese government with regards to its nuclear power business, and is currently looking for partners, as it cannot support these endeavors all by itself now.
This is a bit of a blow for fans of the Windows platform, and the PC hardware industry in general, as Toshiba was a known brand in this sphere.
One that launched several Windows 8 computers, notebooks, ultrabooks, tablets and hybrids, many of which were highly rated and successful around the globe, particularly Japan.
It even unveiled its Windows 10 range of PCs recently, from the 4K Radius to the Click 10 convertible and more. The pullout will not be immediate, but unless things change for the company, we pretty much have lost another large vendor.
Sad times.
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