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Toshiba Digital Products Posts Lower Sales

5/08/2013 06:41:00 AM Eastern

Tokyo — Toshiba’s digital products segment reported lower sales but a lower operating loss for the fiscal year, ended March 31.

Sales dropped 228.3 billion yen to 1,432.7 billion yen ($15.2 billion), a 14 percent decrease. The operating loss improved by 2.8 billion yen to 24.4 billion yen ($259.4 million), compared with the prior year.

Toshiba said the retail information systems and office equipment businesses reported higher sales due to the acquisition of IBM’s retail store solutions unit. But the visual products business, which includes LCD TVs, saw sales slide. Sales were also sluggish in the U.S.

The PC business also recorded a decrease on lower unit sales, due to eroding demand in the U.S., Toshiba said.

Both retail information systems and office equipment businesses both recorded higher operating income. There was small improvement in visual products due to “a continuing decline in demand in Japan.”

The PC business saw lower operating income on lower sales, “even though it secured positive operating income” due to cost reductions, the company said.

Corporately Toshiba’s net sales were $61.7 billion, up 300 billion yen, and its net income was $824.8 million, up 7.4 billion yen from the prior year.

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