TOKYO, July 31 (Reuters) - Japan’s Sharp Corp is set to exit the North American TV market by selling its manufacturing plant in Mexico and licensing its TV brand in the region to China’s Hisense, the Nikkei financial daily reported on Friday.
Osaka-based Sharp, which gains much of its revenue from LCD screens and TVs, has struggled in both businesses due to competition from cheaper Asian rivals.
The report said Sharp would announce the deal later on Friday. The company is due to release its fiscal first-quarter results shortly. (Reporting by Ritsuko Ando; Editing by Muralikumar Anantharaman)