Toshiba, one of the biggest Windows OEMs in the world, is in crisis at the moment. The company admitted last week that it had falsely reported a total of $1.2 billion in profits over the last several years. As a result, the company's president Hisao Tanaka has resigned, along with its Vice Chairman Norio Sasaki and adviser Atsutoshi Nishida.
An independent audit of Toshiba's books discovered the false earnings. Bloomberg reports:
"Toshiba, a 140-year-old pillar of Japan Inc., is caught up in the country's biggest accounting scandal since 2011. Tanaka and Sasaki, who between them have led the company for the past six years, sought to delay booking losses, and employees were unable to go against management orders, according to the report."
The company says it is considering selling off some of its assets in order to raise the money needed to stay afloat. Toshiba just launched its newest Satellite-branded laptops and hybrids for the back-to-school sales season, which will include a dedicated key to activate the Cortana digital assistant for Windows 10.
Source: Bloomberg
