Toshiba to end TV production for overseas markets

Tokyo - Toshiba has decided to stop making televisions for overseas markets amid intensified competition with Chinese and South Korean rivals, Japanese media reported on Wednesday.

The Japanese consumer electronics producer is in talks to sell factories in Indonesia and Egypt to streamline its operations and improve earnings, the Kyodo News agency reported, citing unnamed sources.

Toshiba will continue development and marketing for the domestic market, while consigning production to other overseas firms, Kyodo said.

Toshiba's loss-making TV business has been attributed to stiff price competition with Chinese and South Korean rivals.

Toshiba spokesperson Tomoyuki Numata said Wednesday, "Nothing has been decided."

"But it is true that we have discussed various options," he said.

On Thursday, Toshiba announced a "fundamental restructuring" of its TV business and that it would cease TV development and sales operations in North America.