Toshiba is a brand that’s been drowning in scandals for years. Including a recent one that involved overstating it’s profits to shareholders by $1.2 billion which resulted in the resignation of their CEO.
The company was once one of the most innovative businesses on the planet, they produced one of the first laptops. They were credited as being the first company to mass produce one. Chances are you owned one…
They were sued and settled to pay $1billion in a class action lawsuit for faulty equipment.
Despite being such an innovative company, Toshiba has experienced some massive setbacks over the years that have resulted from a combination of both poor business decisions and public scandals.
This video y Company Man highlights the most notable ones. Here’s a video that highlights the history of Toshiba’s insane series of scandals.
The Surprising History of Toshiba
Toshiba traces its history in Japan to 1875. The company rode the post-war Japanese manufacturing boom in the late 1950s to high growth portfolio of unique and innovative products. Toshiba began selling products in foreign markets during this period and continued to expand its businesses across the globe during the following decades.
Today, the conglomerate operates business units on a worldwide scale in a variety of diverse industries, including semiconductors, personal electronics, infrastructure, home appliances, and medical equipment.
Toshiba reported net worldwide sales of more than 3.38 trillion Japanese yen or $31 billion for the 2020 fiscal year. The company employs more than 125,648 people worldwide.