Sharp to acquire Toshiba's PC business

Toshiba offloads PC subsidiary less than a week after completing sale of memory division

Toshiba is set to offload its PC unit to Sharp in a £27m deal.

The vendor spun off its PC business into a subsidiary in 2016, but last year denied that it planned to flog the unit after reports claimed that a deal with Asus could be on the cards.

Sharp will now take a 80.1 per cent stake in Toshiba Client Solutions (TCS), valuing it at around £34m.

Toshiba said the sale comes after it shifted the PC unit's focus towards enterprise sales.

Toshiba said: "[Following the spinoff] TCS implemented a series of measures to stabilise the business, including shifting its focus to B2B business, reviewing personnel and operating sites, and ending ODM procurement, while also investigating various strategic options with third parties."

The vendor added that its name will continue to be used on products once the unit has been acquired by Sharp.

The deal comes less than a week after Toshiba completed the sale of its memory business to a consortium of investors and vendors.

Sharp meanwhile has been undergoing its own recovery after being acquired by Foxconn in 2016. The Osaka-based firm recently posted its first annual net profit in four years, according to Reuters.