The company is thought to be in early talks with agencies regarding an ad project, which will not affect the relationship with its creative agency, McCann Enterprise.
McCann Enterprise specialises in strategic branding and business-to-business work. It runs Toshiba’s European advertising from its London office and is not involved in the latest project.
A spokesman for Toshiba said: "McCann Enterprise continues to be our retained lead creative/brand agency but we can confirm there has been an initial conversation with another agency about a potential new project."
Further details have not been disclosed.
Toshiba spent £1.6 million on UK advertising last year, according to Nielsen.
McCann Enterprise picked up the European ad account without a formal pitch in 2011, when the UK business was valued at £3 million.
Earlier this year, it created an integrated campaign for the super-thin Z830 laptop, which includes print ads containing jargon-free statements such as "Seriously. It’s this thin" and "The argument for the Toshiba Z830 is a little thin".
Toshiba briefly worked with Johnny Fearless in 2011 on the launch of the TEG tablet in the UK and Europe, but the product was subsequently shelved.
Grey London previously handled Toshiba’s advertising in Europe. It created the "space chair" campaign in 2009 for the Regza SD LCD TV, which sent a chair into near-space by attaching it to a weather balloon.
The chair reached an altitude of 98,000 feet, setting a world record for the highest filmed HD TV ad.