Toshiba has agreed to sell its personal PC business to Sharp in a move which could see Sharp return to the PC market.
The deal, worth four billion yen (roughly $36 million), also includes the issuance of $1.8 billion in new shares by Sharp to buy back stock from banks.
The acquisition, which involves the transfer of 80.1 percent of outstanding shares from Toshiba to Sharp, could not only allow Sharp access once more to the PC market but under the umbrella of Foxconn, the company could also be able to manufacture devices more cheaply.
Sharp was a strong player in the personal computer industry, spanning back to the 1970's and systems which relied on KB-based CPUs and MS-DOS. However, the company closed down its PC operations in 2010.
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