Toshiba confirmed in a company statement on Wednesday that it will be withdrawing from white LED production by late March 2016, according to reports from Nikkei and other Japanese media.

Financial scandals this year has pressured Toshiba to speed up the restructure of its less profitable businesses. Following the confirmation on Wednesday that it will be selling its CMOS sensor business to Sony, market rumors have pointed to the company’s intention to withdraw its white LED business, which has incurred consecutive losses. The company might withdraw from discrete component businesses, reported Japanese media Asahi Shimbun.

Market competition in the North American bulb market has pressured Cree to restructure its LED business, said Roger Chu, Director, Research Division, LEDinside.

Beleaguered Sharp will be shedding 10% of its workforce, and inject 200 billion Japanese Yen (US $1.66 billion) in a global restructure plan, reported Reuters and several other Japanese media including Nikkei.

Following LEDinside’s earlier report about Samsung Electronics plans of withdrawing from the LED luminaire market earlier this month, a recent report from South Korean media Dong-A Ilbo has offered further details.

Korean electronics conglomerate Samsung Electronics intends to close down its LED luminaire business, according to a report by Korean media Yonhap Infomax.