Sharp is giving up on its TV business in the US - but the brand won't disappear anytime soon Read more: http://www.digitalspy.co.uk/tech/news/a661323/sharp-is-giving-up-on-its-tv-business-in-the-us-but-the-brand-wont-disappear-anytime-soon.html#ixzz3hifg1MMy Follow us: @digitalspy on Twitter | digitalspyuk on Facebook
Sharp is giving up on its TV business in the US - but the brand won't disappear anytime soonSharp is giving up on manufacturing televisions in both North and South America.
Although the company won't make TV sets themselves, the brand will live on via a leasing agreement with Chinese tech firm Hisense.
© Sharp
Sharp launched a sub-$1000 4K TV during CES 2015
Hisense has been trying to crack the US market for sometime, so its line of televisions, including Aquos and Quattron, will benefit from a more familiar name.
The deal is worth $23.7 million, which is a better option for Sharp who has struggled to make its TV business profitable.
"In recent years, Sharp has not been able to fully adapt to the intensifying market competition, which led to significantly lower profits compared to initial projections for the previous fiscal year, and has been suffering from poor earnings performance," Sharp said in a statement.
Earlier this year Sharp launched a sub-$1,000 4K TV, followed by smart TVs with Roku built in in May.
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