Sharp and Panasonic will stop their respective TV manufacturing operations in Mexico, as they seek to improve their TV businesses, according to Japan-based Nikkei News.

Panasonic has ended LCD TV production at a China plant as of January 30 and is seeking to sell another in Mexico with a monthly capacity of 500,000 units, the paper said. Panasonic is looking to shift its focus to high-added value TV products to maintain its markets in Japan, Europe and Southeast Asia, the paper added.

For Sharp, it will sell its LCD TV factory with a monthly production capacity of 200,000 units in Mexico, Nikkei News said.

Both firms are likely to rely more on licensing their brand names to shore up profits for their TV businesses.

The moves come as both vendors struggle with their TV businesses as low-priced competition strengthens in the large-size TV segment, the report said.

In 2013, Sharp's TV sales in North America reached 900,000 to hold about 10% of its overall units sales and a 2% global market share.