OSAKA (Kyodo) -- Japanese electronics firm Sharp Corp. said Monday it will sell a liquid crystal display panel plant in central Japan, once viewed as a symbol of the company's strong position in the TV market, to its Taiwanese parent company, Foxconn.

The company will sell the second plant at its LCD production site in Kameyama, Mie Prefecture, where it currently makes LCD screens for smartphones and personal computers.

The facility, along with the first plant at the site, once produced LCD TVs known as the "Kameyama Model," which helped boost Sharp's presence in the large-screen TV market.

Sharp said that once the sale to its parent company, formally known as Hon Hai Precision Industry Co., is completed by August 2026, it will buy panels produced at the factory for use in its products.

The first plant at the Kameyama site will focus on making LCD panels for automobiles.

The electronics maker has scaled down output at the plants through 2024 amid intensified competition from overseas LCD panel manufacturers.