Toshiba to axe half of staff in TV unit

London, Oct. 1 : Japanese electronics firm Toshiba has announced that it will halve the number of staff in its TV division to 3,000.

The announcement, a bid to revamp the unit's operations, will also see the company close two of its three overseas TV manufacturing facilities.

Toshiba said that it would focus on emerging markets including Asia and Africa, and end sales in 'unprofitable regions', the BBC reports.

According to the report, Toshiba, like other Japanese TV makers, is hit by slowing demand, falling prices and increased competition and the company's digital products division, which includes TV manufacturing, saw its losses widen to 166million dollars in the financial year to 31 March.

Toshiba said that the changes were aimed towards improving profitability and strengthening foundations of the business adding that it would move resources towards making large screen ultra high-definition (HD) 4K LCD TVs where growing demand is expected.

The report said that Toshiba would separate the TV business from its Digital Products and Services Company and merge it with Toshiba Home Appliances Corporation.

--ANI (Posted on 02-10-2013)

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