Sharp pulls out of the TV business in the US after financial problems

Sharp exits the LCD TV business in the US.

@anthony256
Published Sun, Aug 2 2015 7:37 AM CDT   |   Updated Tue, Nov 3 2020 12:05 PM CST

Sharp's Aquos line of TVs might be popular amongst enthusiasts, but the company has been forced to pull out of the LCD TV business in the United States after various financial problems had Sharp's hands tied behind its back.

Sharp pulls out of the TV business in the US after financial problems | TweakTown.com

The company sold its Mexican factory for $23.7 million, along with the rights to its Sharp brand in both North and South America to Chinese TV maker Hisense. Over the last quarter, Sharp lost $274 million, while over the last four years the Japanese giant has lost $13.4 billion. Sharp recently secured itself a $1.8 billion bailout, but company president Kozo Takahashi said: "we have to consider all options, including a spinoff of the LCD business. The LCD market is changing very rapidly".

Hisense has said: "The acquisition (of Sharp's brand) will help Hisense gain an upper hand in both North and South America". From here on out, Sharp's Aquos TV line up will continue to be sold in the US, but Hisense will be enjoying any profits made.

NEWS SOURCE:engadget.com

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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