Toshiba is cutting its TV division’s global headcount in half from 6,000 employees to around 3,000, as part of a company restructure.
The tech giant is focusing its resources on the 4K TV, digital signage (visual products for business applications) and cloud services markets.
It will also focus on emerging markets such as Asia, the Middle East and Africa. Toshiba says "growing demand is expected" in those regions and also within the 4K TV/digital signage sectors.
The company will integrate its overseas TV manufacturing facilities, from three to one, excluding joint venture facilities. It will also reduce the number of original design manufacturers (ODMs) and models in its portfolio.
The structural reform of Toshiba’s visual products business is being made to "improve profitability and strengthen foundations of the business".
Toshiba will separate the visual products business from its in-house Digital Products & Services Company and merge it with Toshiba Home Appliances Corporation, a consolidated subsidiary that oversees the home appliances business. The firm plans to establish the provisionally-named Toshiba Consumer Electronics Corporation to operate both businesses.
"Going forward, Toshiba aims to see profit in its visual products business in the second half of this fiscal year through continued review and reform of business processes and operations," the company said in a statement.