Reuters reports that one of Japan’s TV titans, Sharp, is calling it quits in North America. According to the article, the financially troubled electronics giant will sell its Mexico-based TV-assembly facility to Hisense—the Chinese TV maker—for just under $24 million. Furthermore, Sharp will license its brand name to Hisense for use in North America..
“The Japanese electronics maker said it would sell its TV manufacturing plant in Mexico and license its brand in the Americas to China’s Hisense Group. In a separate statement, Hisense said it would pay $23.7 million for the business. Osaka-based Sharp was once a highly profitable manufacturer of premium TVs and a favoured screen supplier to Apple Inc, but has struggled to innovate enough to fend off Asian rivals.“- read more at Reuters.com
Sharp has already released its 2015 lineup of TVs, which it debuted at CES. There’s currently no information on what happens next when it comes to current Sharp TV owners. However, it’s worth noting that last year, Sharp similarly withdrew from the European TV market—this isn’t uncharted territory for the financially troubled company.
Do you own a Sharp TV? Were you planning to buy one? What are your thoughts on Chinese TV manufacturers licensing Japanese brand names? Can the remaining Japanese TV manufacturers—Sony and Panasonic—survive in this market? Sound off!