Sharp reviewing TV licensing deals to boost global presence

Tokyo

JAPANESE electronics maker Sharp Corp said on Tuesday that it will review its TV brand licensing deals overseas in an effort to boost its global presence under the aegis of Taiwan's Foxconn.

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

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 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 from the TV business abroad helped Sharp to 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, Yomiuri said. REUTERS