China’s Hisense Group and Japan’s Sharp announced a deal today that sees Hisense buying all the equity and assets of Sharp’s TV factory in Mexico (for $23.7 million) and with that the rights to use the “Sharp” brand name and all its channel resources in both North and South American regions.
In effect, Hisense is completely taking over Sharp’s consumer TV business in these regions.
The Chinese company has been in the early throes of establishing a brand and presence over here, and this deal obviously speeds that process along.
However, the deal affects just the consumer side of the business and the company thought of in some circles as the father of LCD TV is still moving commercial LCD product.
rAVe Publications’ Gary Kayye has a post up confirming that while Sharp is out of TV, a senior VP told him the prosumer and professional business is moving forward, unaffected.
Makes sense. The panel business is tough, but just about impossible on the TV side when you’re trying to compete with low-cost, high volume TVs from China.