Toshiba is more than a laptop maker, but the vast Japanese conglomerate shrunk on Tuesday under a wave of bad news.
In one day, the company lost its chairman, said it will stop building nuclear power plants, wrote off about US$6.2 billion relating to that business, and postponed its fourth-quarter earnings report for a month.
Its financial problems were no secret: Two weeks ago, it revealed plans to sell stakes in its memory chip and SSD businesses to cover the nuclear write-offs.
Last June, it sold an 80 percent stake in its domestic appliances business, Toshiba Lifestyle, for $450 million. Before that sale, it had been planning to develop a series of smart appliances that could link up with its TVs and PCs.
Source: News Feed