Fujitsu's hard-drive business now Toshiba's

Fujitsu and Toshiba announced on Thursday that they have completed the transfer of Fujitsu's hard-drive business to Toshiba.

First announced in February, the agreement moves Fujitsu's former hard-drive business into a new Toshiba subsidiary company called Toshiba Storage Device Corp., or TSDC.

To ease the transfer, Toshiba will initially own 80 percent of TSDC, with the remaining 20 percent owned by Fujitsu. By December of 2010, Fujitsu will give up its entire share, making TSDC a wholly owned Toshiba subsidiary.

The conclusion of the deal had been postponed because of delays in obtaining regulatory approval from the European Commission.

Facing intense competition from rivals Seagate, Western Digital, and Hitachi, Toshiba is hoping to carve out a bigger slice of the hard-drive market. The company said it's looking to capture hard-drive sales of 600 billion yen ($6.7 billion) by its fiscal year ending March 2012 and win 20 percent of the market for the year ending March 2016.

After all the B.S the bloody European Commission makes for companies around the world, namely American companies. We should just quit sending our goods and technologies to these self-righteous (jerks)
[CNET editor's note: Offensive language deleted.]

[sharmajunior]

Great, another business for Toshiba to ruin....Toshiba....please stop producing crap...even though you are the first to come up with it in the first place at times.......

[ikramerica--2008]

Hooray, fewer HD companies in the world. Quality will drop another notch.

Luckily for the consumer, none of these companies other than Samsung was smart enough to build an SSD business, so they will go the way of the dodo in a few years, while newer players will offer quality and reliability again.

[DesignerLingerie]

Great post. I really like the way you present this post with us. Its really great to know that toshiba get another business to run ahead...... Thanks a bunch for sharing this information with us. Keep blogging.