Your browser is not Javascript enable or you have turn it off. We recommend you to activate for better security reasonSharp to exit North America TV market - FlatpanelsHD

Sharp to exit North America TV market

31 Jul 2015 | Rasmus Larsen |

First Europe and now North America. Japanese Sharp has struggled to make its TV business profitable for years but without luck. Sharp will license its brand to Chinese Hisense.

The Sharp logo will not disappear

Once a great TV manufacturer, Sharp has struggled to compete with South Korean players. At its earnings call today, the company reported deep first-quarter losses of $231 million USD, and confirmed that it will exit the TV business in North America.

Sharp will sell its TV manufacturing plant in Mexico to Chinese Hisense Group. It will also license its brand to Hisense, allowing them to sell TVs with a Sharp logo attached in the coming years. Hisense will pay Sharp $23.7 million.

- "Sharp has not been able to fully adapt to the intensifying market competition, which led to significantly lower profits compared to the initial projections for the previous fiscal year, and has been suffering from poor earnings performance," the company said.

Sharp pulled out of the European TV market last year and has licensed its brand in this region to Universal Media Corporation (UMC).

Sharp is also considering major changes for its LCD panel production. The company is currently producing and selling LCD panels to other phone, tablet, and TV brands. It is considering several options, including a strategic deal with another company for its LCD business, after it refused to do such a deal as late as May 2015.

The company recently launched Roku and Android based TVs in the US. It is unclear if what Hisense intends to do from here. Hisense has made a similar deal with German Loewe.

- Source: Reuters

Latest news

FlatpanelsHD TV Database

Introducing the TV Database

18 Sep 2020 | Flatpanels |
Demons Souls

Next-gen console games will cost up to $70 / €80

18 Sep 2020 | Rasmus Larsen |
Filmmaker Mode

Samsung rolls out Filmmaker Mode for 2020 "QLED" LCD TVs (update: Europe too)

18 Sep 2020 | Flatpanels |

PlayStation 5 is an energy hog

17 Sep 2020 | Rasmus Larsen |

PlayStation 5 will cost $400/€400, or $500/€500 for disc version

16 Sep 2020 | Rasmus Larsen |
Mythic Quest Apple

tvOS 14 has arrived with HomeKit scenes, new gaming features, more

16 Sep 2020 | Rasmus Larsen |
Apple One

Apple One bundles TV+, Arcade, Music, Fitness+, and more

16 Sep 2020 | Rasmus Larsen |

Paramount+ will be ViacomCBS's new global streaming service

16 Sep 2020 | Rasmus Larsen |