Japanese conglomerate Toshiba has officially left the laptop business after selling its remaining 19.9% stake in the Dynabook brand to Sharp. This ends Toshiba’s 35-year chapter in the PC industry.

“As a result of this transfer, Dynabook has become a wholly owned subsidiary of Sharp,” Toshiba said in a statement.

Toshiba’s first laptop, the T1100, was manufactured in 1985. The device used floppy disks, and was marketed by Toshiba as “the world’s first mass-market laptop computer.” During the 1990’s and 2000’s, the company flourished as it rolled out the Satellite, Portégé and Qosmio PC lines.

At its peak in 2013, Toshiba sold 17.7 million PCs.

Yet, the company began to struggle as rivals such as Apple, Dell and Lenovo unveiled products such as the Macbook Air and the XPS series. Toshiba also made a failed bet on the HD DVD disc format, which was discontinued in 2008 after it failed to compete with rival Blu-ray.

In 2017, the company only sold 1.4 million PCs. The company sold 80.1% of its laptop business to Sharp in 2018 for $36 million, with Sharp naming the brand Dynabook.

Toshiba, based in Tokyo, is also well-known for its televisions and printers. The company was founded in 1875 and is publicly traded on the Tokyo Stock Exchange, Nagoya Stock Exchange and London Stock Exchange.

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