Toshiba has finally concluded the process of transferring its total shares over to Sharp, thereby, leaving the laptop production business completely, after 35 years of PC production.
The Japanese company had in 2018, sold 80.1% of its PC production shares to the fellow in electronic business – Sharp, for $36 million.
In January 2019, Sharp rebranded the company, and named it Dynabook, with Toshiba holding on to the remaining 19.9% shares of the new product.
Sharp added a clause to the contract in June 2020, which gives the company the opportunity to acquire the remaining 19.9% of the company’s shares in Dynabook.
Last week, Toshiba released a statement affirming that the remaining 19.9% shares they held in Dynabook, has been transferred to Sharp, and they have completely handed off the business.
The statement reads:
“Toshiba Corporation (TOKYO: 6502) hereby announces that it has transferred the 19.9% of the outstanding shares in Dynabook Inc. that it held to Sharp Corporation. As a result of this transfer, Dynabook has become a wholly owned subsidiary of Sharp.”
ALSO READ:-Meet the World’s oldest prisoner who rejected freedom.
Toshiba further established that:
“On June 30, 2020, under the terms of the share purchase agreement, Sharp exercised a call option for the remaining outstanding shares of Dynabook held by Toshiba, and Toshiba has completed procedures for their transfer.”
The completion of the transfer of shares from the company to Sharp marks the end of a 35-year run of Toshiba producing personal computers.
Toshiba, in 1985, did launch the T1100, which is the first laptop computer.
The T1100 was built with 256 KB of memory, a 640×200 pixel reflective LCD screen, and a 3.5-inch floppy disk.
In terms of weight, the T1100 weighed 4.1kg, and cost about $2,000 at that time.
The design of the Toshiba T1100 became a mainstream design for laptops at that time, with nothing significant changing in laptop design, until Apple’s design in early 90s.
The Machine had its peak market share in 2011, with over 17 million computers sold in a year, but by 2017, the company’s sales had nose-dived to about 1.4 million computers.
