Toshiba to cut 3,000 jobs in TV divisionSeptember 30, 2013 - 15:18 AMT PanARMENIAN.Net - Japanese electronics firm Toshiba has said it will halve the number of staff in its TV division to 3,000 as it looks to revamp the unit's operations, BBC News reported. The changes will also see the firm close two of its three overseas TV manufacturing facilities. Toshiba said it would focus on emerging markets including Asia and Africa, and end sales in "unprofitable regions". The company, like other Japanese TV makers, has been hit by slowing demand, falling prices and increased competition. The company's digital products division, which includes TV manufacturing, saw its losses widen to 16.3bn yen ($166m), in the financial year to March 31, compared with a loss of 3.3bn yen a year earlier. Toshiba, which makes the Regza brand TV sets, said in a statement that the changes were aimed "toward improving profitability and strengthening foundations of the business". The firm said it would separate the TV business from its Digital Products & Services Company and merge it with Toshiba Home Appliances Corporation. Toshiba said that it would move resources towards making large screen ultra high-definition (HD) 4K LCD TVs "where growing demand is expected". Leading global manufacturers have been looking at this segment, which offers four times the amount of detail as 1080p high-definition TV, as an area of potential growth. Panasonic and South Korea's LG are among the manufacturers that have launched ultra HD TVs. Toshiba's move to focus on the technology also comes as Japan is looking to become the first country to broadcast 4K programming over satellite from 2014, in time for the football World Cup. Earlier this year, a Japanese telecoms company said that it was carrying out tests to try to prove that 4K-resolution video could be streamed over the internet to television set-top boxes. Related links: Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Armenian, Azerbaijani heads of parliament meet in Switzerland President of the Armenian parliament Alen Simonyan met with the Speaker of the Azerbaijani Milli Majlis Sahiba Gafarova. Border residents overnight on highway to protest Armenia’s Residents of Kirants continue to express outrage over the government’s decision to cede land to Azerbaijan. Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. Byblos Bank Armenia celebrates Students' Day with scholarship recipients YSU students who received scholarships from Byblos Bank Armenia gathered in a casual setting to meet with the Bank's CEO, Hayk Stepanyan. |