Toshiba to cut $300 million in television, PC business

Toshiba says it will cut away $300 million in costs within its television and PC businesses in light of poor consumer demand and a weak yen.

The Japanese electronics maker will push forward with company restructuring over the next few years, as reported by Reuters. By March 2014, Toshiba wants to cut 10 billion yen ($100 million) from the firm's television and PC sectors. In the following two years, these cost-cutting measures will be doubled to save a further $200 million.

In addition, the electronics maker said it wants to shift 400 employees from these businesses after breaking up its Digital Products company into three segments -- with some staff becoming relocated to the social infrastructure department.

Toshiba, in the same manner as other electronics giants, has faced weakening consumer demand for television sets and personal computers over the past few years. A slowdown in Europe, a weak global economy and the expansion of mobile technology including smartphones and tablets has all contributed to poor sales rates.

In conjunction with company restructuring efforts, Toshiba also plans to focus on premium, high-end LCD television sets and shift the firm's focus to B2B business. In addition, the electronics maker has tapped the low-end tablet market by recently offering three new 10.1-inch Android tablets in its Excite lineup, priced from $299 to $599.