Toshiba to close down Mobile Broadcasting Corp.

Toshiba to close down Mobile Broadcasting Corp.

Japanese company Toshiba has announced that they are going to close down their subsidiary unit Mobile Broadcasting Corp.

This business unit currently has only 100,000 paid subscribers. They had originally aimed to have 1.5 million customers by this time when the services were launched.

Toshiba at that time became the first company to become a provider of direct-to-handset service.

The company said in a statement on this new development: ”The number of subscribers has not reached a sufficient level to sustain operations and following a thorough review of operations, the company has decided to cease broadcasting.”

Toshiba said that closing down the operations of this service would cost them $232.9 million after an operating loss of 8.2 billion yen on revenues of 2.7 billion yen in the year ended March.