Sharp will come out of the tv market in the Americas

Sharp announced it will exit the TV business in the Americas and will consider further measures to strengthen its finances, after disclosing a quarterly loss worse than expected because of weak sales of screens for smartphones.
The Japanese electronics manufacturer reported that it will sell its factory in Mexico and license its brand in the Americas for the Chinese Hisense Group. In a separate release, the Hisense announced that it will pay $ 23.7 million for the business.
Sharp has been a very profitable manufacturer of premium TVs and preferred supplier of fabrics to Apple, but have faced difficulties to innovate enough to fight Asian rivals.
"Sharp has not been able to adapt to market competition increasingly intense, leading to significantly lower earnings in comparison to the initial projections for the previous fiscal year, and has been suffering with poor performance of results," said Sharp, in a statement, explaining the sale of the business of television.
For the period from April to June, a Sharp operating loss of monies 28.8 billion yen (US $ 231,87 million), compared with a profit of 4.7 billion yen on a year before. The result was worse than the average estimate of a loss of 21.2 billion yen between 14 analysts consulted by the Reuters Agency.
Already the net loss deepened to 34 billion yen compared with 1.8 billion yen in the same period.