Rumor: Sharp is considering exiting European TV market

Sharp is said to be in talks to sell its European TV business. The manufacturer would like to sell its TV production plant in Poland to TPV and would also give that party the right to sell LCD TVs under the Sharp brand name.

Talks with Hong Kong-based TPV Technology are said to be at an early stage and nothing has been decided yet, a source who is “acquainted with the situation” told Reuters. TPV is already active in the TV market with TP Vision, a joint venture of TPV and Philips, which markets TVs under the Philips brand name. Should the deal go through, TPV will be responsible for the production and sale of Sharp TVs in Europe.

Sharp has been working for years to implement major cost savings, after the Japanese company had to record multi-billion losses. Thousands of jobs have already been cut at the group and Sharp has also previously considered divesting TV factories.

Sharp would also be negotiating its European white goods business. The Turkish Vestel Elektronik Sanayi ve Ticaret AS would like a license to sell white goods under the Sharp name. Finally, Sharp would like to exit the joint venture with the Italian Enel SpA for the production of solar panels.