Tech company Toshiba has officially announced its exit from the laptop business. The Japanese firm has been a major shareholder in the global PC market but the last couple of years have surely been tough.

Toshiba had originally started its exit process by selling the majority of its stake to Sharp in 2018.

“Toshiba Corporation hereby announces that it has transferred the 19.9% of the outstanding shares in Dynabook Inc. that it held to Sharp Corporation,” the company wrote in a press release. “As a result of this transfer, Dynabook has become a wholly-owned subsidiary of Sharp.”

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The announcement now marks the end of a 35-year run in the laptop business by the company. The rest of the stake is currently being transferred to Sharp, according to Toshiba.

The company’s business peaked in the 1990s to early 200s, being ranked among the top manufacturers. After some silence, Toshiba peaked again in 2011 having sold 17.7 million PCs globally. However, that was followed by a continued decline that led to a sale of just 1.7 million units in 2017.

It is not exactly clear what led to Toshiba’s devastating decline, although there are a couple of likely factors. The company tried to invest on HD DVD which never seemed to work. Media-centric laptops whose main feature was Blu-ray became useless once streaming took over.

Rivals like Apple, Dell and Lenovo also beat Toshiba at its own game with really light laptops like the MacBook Air, XPS series and Thinkpad Carbon lineup. In the end, it seemed like Toshiba was completely running out of ideas on how to bounce back in the market.

As of now, Toshiba is not ranked on the global market share,  as its name is buried deep among the “others” category.