Struggling Japanese electronics company Sharp is to exit the US market. It is selling its Mexican production facility to Chinese rival Hisense, which has bought the factory and gets the rights to sell output into the US (and South America) under the Sharp brand name. Hisense is paying Sharp $23.7 million for the assets.
In late July Sharp reported Q1 losses of $231 million. Back in 2013 Sharp, based in Osaka, Japan, was measured as the tenth-largest television manufacturer in the world. Sharp sells its high-end TVs under the Aquos brand.
Sharp has already (September 2014) licensed its European business to Universal Media Corp of Slovakia (UMC) which covers all of Sharp’s audio and video businesses in Europe, and including 100 percent of Sharp Manufacturing Poland.