Toshiba to exit TV business in North America, eyes global overhaul

[TOKYO] Toshiba Corp said it will stop making and selling TVs in North America and is considering similar exits from other countries, the latest Japanese electronics maker to exit the TV market amid intensifying price competition.

Toshiba said on Thursday it will license the North American TV business to Taiwan's Compal Electronics, and was in negotiations to sell its TV brand in other markets as well.

The company said it had tried to cut costs and launch higher-margin large-screen TVs, but the "global market is slowing down and continues to see harsh price competition".

REUTERS