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August 26, 2016

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Hisense still owns Sharp rights

HISENSE, which bought Sharp America for US$23.7 million in 2015, reiterated yesterday that the company still holds the licenses of Sharp brands in America even after Foxconn’s acquisition of Sharp.

Hisense, which sells both Hisense and Sharp TV brands in the US, found it necessary to emphasize that it is the holder of the Sharp brand license rights in America after new Sharp chief executive Tai Jeng-wu was reported as planning to cancel licensing deals for the Sharp brand on various consumer electronics. Tai was appointed as Sharp’s new CEO after Foxconn completed the US$3.9 billion acquisition.

Hisense, the leader in the Chinese TV market, has not been contacted to discuss altering the terms of its licensing agreement with Sharp, said the Qingdao-based home appliance giant in a statement.

“Hisense has successfully resuscitated the Sharp TV brand in the Americas and has no intention of ending its agreement with Sharp early,” Hisense said.

In 2015, Hisense acquired licensing rights to the Sharp TV brand in North and South America.



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