TOKYO - Toshiba said Thursday it was getting out the North American television business and selling its brand in the market to Taiwanese manufacturer Compal Electronics, as the conglomerate reported soaring nine-month earnings.
The Japanese company, which is involved in a range of businesses from power generation, transmission systems and medical equipment to computer chips and laptops, pointed to slowing TV sales for the decision to stop development and sales of televisions in North America.
Compal would sell televisions under the Toshiba brand, it said, adding that it was also in talks to license its brand to manufacturers in other TV markets outside Japan.
Japan's TV makers, also including Sony and Panasonic, have suffered as razor-thin margins and fierce overseas competition dented their bottom line. more here