Sharp America sold to Hisense in $23.7m deal

Move expected to expand overseas reach of Chinese TV maker

Chinese TV manufacturer Hisense Group said on Tuesday that it will acquire Sharp America's television business for the North and South American markets in a deal worth $23.7 million.

Though the acquisition is expected to expand the Chinese company's overseas reach, it will have little impact on the cash-strapped US arm of the Osaka, Japan-based Sharp Corp, said industry experts.