(MENAFN) Hisense, leading Chinese TV manufacturer, is expected to see revenue of USD2 billion in the Americas after it announced striking a deal to buy Sharp Corp's Mexico unit.
The acquisition, worth USD23.7 million, involves a plant in Mexico, which can produce three million liquid crystal display (LCD) a year, and the right to use Sharp brands in the Americas, except Brazil.
The move comes as the struggling Japanese company is seeking urgently to improve its performance in the Americans, especially in North America, Hisense vice president said.
In recent years, Sharp was not able to adapt to intensifying competition. It saw significantly lower profits compared to previous projections and has been suffering a poor earnings performance.
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