Toshiba to Sell Egyptian TV Stake

Toshiba is reported to be in talks with Egyptian home electronics company El Araby about selling 40% of its 51% stake in TV manufacturing facilities in Egypt. The two companies set up their joint venture in 2011, with El Araby taking a 49% stake to Toshiba’s 51%.

The report in Digitimes claims that Toshiba wants to outsource its own branded TV orders to companies such as Compal and Wistron and is also considering selling off its TV manufacturing plant in Indonesia.

Toshiba has been steadily withdrawing from overseas TV manufacture over the last 18 months since it first announced in October 2013 that it would close two of its three overseas manufacturing sites and halve the number of employees in its TV business to 3,000 (Display Monitor Vol 20 No 38). Since then, Toshiba has sold its TV assembly plant in Poland to Compal and earlier this year said it would cease TV development and sales in North America and license its TV business in the US to Compal (It’s Official: Toshiba Leaves North American TVs).