Toshiba to cut $100mln in TV, PC businesses till March 2014July 26, 2013 - 14:17 AMT PanARMENIAN.Net - Japan's Toshiba Corp said on Friday, July 26 it aims to cut a combined 10 billion yen ($100 million) in costs in its television and PC businesses in the year to March 2014 and double that figure in the following year to cope with persistently weak demand, Reuters rpeorted Toshiba said it will shift 400 staff from its domestic TV and PC businesses to its social infrastructure arm and other segments this fiscal year, after breaking up its Digital Products company into three divisions. The company's TV segment has been in the red for the past two years due to weak global sales, partly reflecting a slowdown in Europe, and a drop in domestic demand following a short-lived boost from a switch to digital broadcasting. The PC market has also been hit by the rise of smartphones and tablets. Toshiba said it would aim to increase TV sales in emerging economies to 40 percent of total revenue, from 30 percent in fiscal 2012, while expanding its line of high-end LCD TVs and focusing on its B2B business. The company's share price closed down 3.7 percent on Friday at 463 yen, in line with a 3 percent drop in Tokyo's benchmark Nikkei share index. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |