Sharp plans review of TV licensing deals to boost global presence

Source:Reuters-Global Times Published: 2016/8/23 23:03:39

Japanese electronics maker Sharp Corp said Tuesday it will review its TV brand licensing deals overseas in an effort to boost its global presence under the aegis of Taiwan-based Foxconn.

"We have decided to review our current brand licensing business in Europe and the Americas and are currently examining various possibilities," Sharp said in a statement.

The comment followed a report by the Yomiuri newspaper that Sharp will dispatch officials in September for negotiations to buy back its TV business in the US and Europe.

Sharp effectively exited the money-losing TV business in those markets and licensed its brand to China's Hisense Group in the Americas and to Universal Media Corp Slovakia in Europe.

The withdrawal helped Sharp trim its losses in the April-June quarter.

But Sharp now believes that it can make profits out of the TV business by taking advantage of Foxconn's procurement power in the supply chain and its vast network of clients, the Yomiuri said.

Foxconn, known formally as Hon Hai Precision Industry Co, is the world's largest contract electronics manufacturer. Its clients include Apple Inc, Sony Corp and many other major international companies.

Sharp said in August that ­Foxconn completed the 388.8 billion yen ($3.84 billion) purchase.

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