Audio Video News

Sharp is pulling the plug on its U.S. television business, according to a report in MediaPost.com.

The news site reported that the Chinese electronics company Hisense is buying Sharp’s factory in Mexico for $23.7 million and will use the Sharp name as part of the deal.

Sharp joins several other high-profile Japanese brands—including Toshiba, Hitachi, Pioneer, and Mitsubishi—that have abandoned the hyper competitive TV category. Toshiba was the most recent Japanese brand to pull the plug back in February.

Full MediaPost.com report here.