Toshiba has quit the laptop business completely after transferring the remaining minority stake in its PC business to Sharp. The sale marks the end of a 35-year run in the business for the company.

In 2018, Toshiba sold 80.1 percent of its PC business to Sharp for $36 million. A division Sharp consequently renamed as Dynabook. The deal gave Sharp the right to purchase the remaining 19.1 percent stake, a move which Sharp made in June 2020 devoid of media attention.

Toshiba on 4th August 2020 then released a statement confirming the completion of the purchase. In the statement, Toshiba cited that Sharp having exercised its rights to purchase the remaining stake in the business now fully owns Dynabook.

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“Under the terms of a June 2018 share purchase agreement between Toshiba and Sharp, Toshiba transferred to Sharp 80.1% of the outstanding shares of Toshiba Client Solutions Co., Ltd (hereinafter TCS), then Toshiba’s wholly-owned subsidiary in the personal computer business.

“That transfer closed in October 2018, and TCS changed its name to Dynabook in January 2019. 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 statement read.

Toshiba was among the elite PC manufacturers of the 1990s and early 2000s but its appeal waned with increasing competition. The company achieved a 2011 peak of 17.7 million PCs but according to Reuters, the figure was a meager 1.4 million in 2017.

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