TOKYO (AP) — Troubled Toshiba Corp. is selling 95 percent of its TV and other visual products subsidiary to Chinese electronics maker Hisense Group as part of its effort to stay afloat. Tokyo-based Toshiba announced the 12.9 billion yen ($113 million) deal Tuesday. It’s set to be completed by or after February 2018, pending regulatory […]
Toshiba Corp., whose U.S. nuclear unit Westinghouse Electric Co. has filed for bankruptcy protection, raised doubts Tuesday about its ability to survive as a company.
TOKYO (AP) — Toshiba plans to cut 7,800 jobs, mostly in its consumer-electronics business, as it reorganizes in the face of projected record losses for the current fiscal year. The Japanese conglomerate has been struggling with the aftermath of a major accounting scandal, compounded by troubles in nuclear energy and losses in the business that […]
CEO Hisao Tanaka has quit as Toshiba Corp. acknowledged a systematic cover-up that began in 2008 of doctored books that inflated the tech maker’s profits for years.
European Union’s antitrust chief slapped the biggest ever cartel fine — over €1.47 billion ($1.96 billion) — on seven companies for allegedly rigging the international market of television and computer monitor tubes. The EU’s Commission ruled that, for a decade ending in 2006, the companies — including Philips, LG Electronics and Panasonic — artificially set prices, shared markets and restricted their output.