Sharp To Exit The Americas TV Market

Sharp is a company that many have come to associate with displays. The company creates display panels used by other companies, and they create them for their own use as well such as in their Sharp-branded TVs. However it seems that the TV market in the Americas region might be a bit too fierce for the company’s liking.

In a statement issued by Sharp, it looks like the Japanese display company will be exiting the Americas market following a deeper-than-expected quarterly loss, particularly due to its weak sales of smartphone displays. The company will also be selling off its TV manufacturing plant in Mexico and will license its brand to be used in the Americas by China’s Hisense Group.

According to Sharp, “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.” Sharp is also one of the provider of display components to Apple, but apparently even that’s not enough to sustain the company, at least not as far as the Americas market is concerned.

To that end, Sharp’s CEO Kozo Takahashi stated that he would be open to the idea of major restructuring. “We haven’t yet made any specific decision, but we need to consider a wider range of options than we did back in May … when we said we were definitely going to carry on with the LCD business in its current form.”

Tyler Lee
Categories: General
Tags: Sharp