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Sharp re-enters the market after acquiring Toshiba’s PC business for $36M

Eight years after pulling out from the PC industry, Sharp is making a comeback after buying Toshiba’s personal computer business for $36 million.

Techspot.com reported that Sharp is acquiring an 80.1 percent stake in Toshiba’s personal computer business with the backing of parent company Foxconn despite the diminishing demands on computers.

It can be remembered that Toshiba sold the first ever laptop computer back in 1985 and had moved 17.7 million PCs during its peak seven years after but later shrunk to 1.4 million units just last year.

The company has also struggled after being involved in an accounting scandal and its Westinghouse Electric unit’s bankruptcy.

Toshiba later sold its chip division to Bain Capital for $18 billion and its TV business to Hisense for $113 million in order to generate cash.

Euromonitor International’s senior analyst Hiromi Yamaguchi then said that Sharp’s acquisition “will prove a further catalyst for more Sharp and Foxconn synergies.”

(Photo source: blog.gsmarena.com/ fortune.com)