Business / Corporate

Sharp to re-enter U.S. TV market after reaching agreement with Hisense on brand rights

Kyodo

Sharp Corp. said Wednesday it will re-enter the U.S. TV market for the first time since 2015 after reaching a deal with Chinese electronics maker Hisense Group on rights to sell its brand in the world’s largest economy.

Sharp sold its rights to use the Aquos brand and its production facilities to Hisense in 2016 as part of restructuring efforts.

The Japanese display maker decided to buy back its brand from the Chinese group after being acquired by Taiwan’s Hon Hai Precision Industry Co. in 2016, but negotiations between them had stalled.

Sharp is expected to put its high-end 8K ultra-high-definition TVs on sale in the United States as early as this fall ahead of the Christmas holiday season, with plans to eventually expand to Canada and Mexico, company sources said.