Toshiba to cut costs in TV business

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Toshiba announced today that it is set to cut a combined 10 billion yen (£65 million) in costs in its television and PC businesses to March 2014 and double that cut back figure the following year because of weak demand in these areas.

The Japanese company also told of its plans to move 400 staff from its domestic TV and PC businesses to its social infrastructure arm amongst other segments during this fiscal year, following the break up of its Digital Products company into three divisions.

Toshiba’s TV business has been producing loss for the past two years due to weakened global sales, partly reflecting a slowdown in Europe, and a drop in domestic demand following a short-lived boost from a switch to digital broadcasting. The PC market has also been hit by the rise of smartphones and tablets.

The company said it would now focus its TV business on emerging economies and expanding their high-end LCD TV range, hoping that TV sales in the emerging markets will account for approximately 40 percent of their total revenue.

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