Toshiba plans to exit its loss-making high-integration chip business
|Toshiba said it will exit its loss-making high-integration chip business as the Japanese conglomerate seeks to improve its profitability. |
In particular, we are talking about image recognition processors that Toshiba supplies to Toyota Motor. The manufacturer said that it will continue to support existing customers.
In connection with the decision to wind down the line of business, Toshiba plans to move 770 employees to other jobs or offer them options for early retirement. The move will cost the Japanese company about $ 120 million. It is already included in the profit forecast.
At the same time, the business of manufacturing power management chips will be preserved.
In 2018, Toshiba sold its flash memory business, now known as Kioxia Holdings, to a consortium led by Bain Capital for $ 18 billion, in an attempt to close the financial hole caused by the problems of the us division operating in the nuclear power industry.
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