Sharp rethinks foreign brand licensing deals
Troubled Japanese telly maker Sharp is having a rethink of its TV brand licensing deals overseas in an effort to boost its global presence now it is ruled by the glorious Foxconn empire.
In a statement the company said it had decided to review our current brand licensing business in Europe and Americas, and are currently examining various possibilities.
The comment follows a report by the Yomiuri newspaper that Sharp will dispatch officials next month for negotiations to buy back its TV business in the United States 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 from the money-losing TV business abroad helped Sharp trim its losses in April-June.
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.