From CNET: Chinese TV manufacturer Hisense has today announced it will acquire Sharp America in a deal worth $23.7 million that will see it take over the Japanese company's TV business in North and South America.
Hisense Group today released a statement confirming it would purchase "all equity and assets of Sharp's TV factory in Mexico for $23.7 million with rights to use the 'Sharp' brand name and all its channel resources in both North and South American regions."
In a TV market dominated by the likes of LG, Samsung, Sony and Panasonic, this deal will see Hisense become a serious contender in the Americas, and also marks a broader shift by Chinese brands to grab a bigger slice of the consumer market in the region. Having manufactured flat panels for more than a decade, Hisense is well-placed to capitalise on potential growth in an industry with its eyes set on 4K and OLED TV technologies, and to capture consumers looking for an established brand with a lower price tag.
Sharp Corporation, the 103-year-old Japanese electronics company, was an early investor in LCD technology but has struggled in recent years to keep up with Korean and Chinese competitors. Sharp has championed innovations like a fourth sub-pixel (yellow) to enhance picture quality in LCD and this year has added Android TV to its line up.
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