Toshiba on Monday said that it would sell a loss-making television factory in Poland to Taiwanese electronic manufacturing service giant Compal Electronics Inc. The Japanese firm inked a deal to sell Toshiba Television Central Europe, which operates the Polish plant, to its Compal Electronics for about 25 million dollars. Transfer is set to be finalized within fiscal 2013.

About 700 factory employees are slated to be transferred to Compal.

Toshiba's TV business was purportedly still stuck in the red for the half-year ended in September. The company is aiming for a return to profitability in the second half of fiscal 2013 by shedding overseas factories and employees.

Toshiba also sold a Mexican factory to Compal in 2011.