June 5, 2018 / 3:07 AM / 15 days ago

Japan's Sharp says to buy Toshiba's PC business

TOKYO (Reuters) - Japan’s Sharp Corp said it will acquire Toshiba Corp’s personal computer business for $36 million, highlighting its recovery under the control of Foxconn and marking a return to a business it quit eight years ago.

FILE PHOTO: A logo of Sharp Corp is pictured at the CEATEC JAPAN 2017 (Combined Exhibition of Advanced Technologies) at the Makuhari Messe in Chiba, Japan, October 2, 2017. REUTERS/Toru Hanai/File Photo

It will pay 4 billion yen ($36.47 million) for an 80.1 percent stake, it said in a statement on Tuesday.

Sharp was once known as a major supplier of high-end TVs and smartphone displays but struggled to compete with Asian rivals and was bought by Taiwan’s Foxconn, or Hon Hai Precision Industry Co Ltd, two years ago. It exited the PC market in 2010.

($1 = 109.8200 yen)

Reporting by Makiko Yamazaki; Editing by Michael Perry

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