Toshiba is ending its domestic production of flat-panel televisions in a bid to double its operating profit by 2014-15. The company's shares rose by more than 5 percent in Tokyo in response to the move.
The company said it aims to double its annual operating profit to 450 billion yen ($5.6 billion). In doing so, it will put a stop to the production of televisions in Japan, in which the business saw a 50 billion yen ($620 million) loss a year earlier.
Instead, it will focus on its social infrastructure business and electronic devices.
"We have shut … Read more