The troubles of Toshiba started way back in 2006 when they went against their way to purchase Westinghouse a nuclear company.
Five months after Toshiba acquired Westinghouse, an explosion erupted at the nuclear plant causing a huge financial and structural setback for the company.
The company filed for US bankruptcy two weeks ago marking an inevitable risk on Toshiba’s future as a huge multinational company.
What Next for Toshiba?
After making a loss of up to five billion in US Dollars within nine months of last year from April to December, it is quite clear that there is no saving one of the most successful companies in Japan.
Several parts of Toshiba are to be split up and sold off for example the Toshiba chip business is under negotiations with Foxconn.
In other news: Telegram Using Emoji’s To Tighten Its Security
Foxconn may pay twenty-seven billion in US Dollars for Toshiba’s chip business.
According to business experts at BBC, they believe the government of Japan is not trying to save Toshiba like it did with Sharp last year probably because they want these companies to wake up and become more innovative.
The reason behind this move is to force the old conservative companies to leave their old ways of doing things which has seen a good number of multinational companies fail due to competition from cheaper and better quality products being produced in China and South Korea.
Will Toshiba be able to come out of this deep hole and survive the tides against it? Or is it going to be another big giant that falls to ground after several years of remarkable innovation.
Hudson is a freelance author for Spur Magazine that loves writing about tech, entertainment and news around the world.