Sharp restructures its North American LCD business

Due to this, Sharp has decided – with regard to its LCD television business in the Americas – that it will form a business alliance with Hisense HK (a subsidiary of Hisense). The company will shift to a business where it will license its brands to the LCD televisions offered by Hisense HK in the Americas market, and transfer its shares in SEMEX, Sharp’s Mexican LCD television manufacturing subsidiary, to Hisense’s subsidiaries, Hisense Electric and Hisense USA. The shift to the new business model is expected to take place in January 2016. As a result of this shift, losses resulting from the transfer of SEMEX shares and costs of rightsizing the workforce are expected uccurr. The company aims to rebuild the business in the Americas. The LCD television business will be converted into a profitable business that revolves around its business alliance with Hisense HK. “Sharp will continue to operate and increase the profitability of its businesses, such as its consumer electronics (such as ovens) business, its business solutions business with a particular focus on photocopiers and information display, its energy solutions business with a particular focus on solar cells, and its devices business,” Sharp writes in a statement. Sharp’s LCD television business in the Americas will be shifted to a business where Sharp will grant license to use its brands to the LCD televisions offered by Hisense HK in the Americas. The brands that will be licensed to Hisense HK are SHARP, AQUOS, and Quattron.