Fujitsu gives up hard-drive business to Toshiba

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Well, its finally done. Fujitsu and Toshiba announced today that they completed the transfer of the former’s hard-drive business to Toshiba, specifically to their subsidiary company called Toshiba Storage Device Corp. (TSDC).

Toshiba now owns 80 percent of TSDC while Fujitsu has 20 percent of the share. By the end of next year however, Fujitsu will turn over its remaining 20 percent share to Toshiba. TSDC hopes to complete hard-drive sales of $6.7 billion by its fiscal year ending March 2012.

The agreement between the two companies was first announced last February.

Source: http://news.cnet.com/8301-1001_3-10365763-92.html