China-based Hisense and Sharp America are big names in the TV industry. The history between the two companies includes back-and-forth brand and asset ownership, lawsuits, and more. Here’s a look at what happened between Hisense and Sharp.
Hisense explains its strategy for dominance in the US TV market
In a major development in the consumer electronics industry, Hisense, one of China's largest TV manufacturers, acquired the North American manufacturing facilities of Japanese company Sharp and acquired the brand rights for the US market.
In 2015, Hisense began producing all Sharp-branded TVs in the U.S. This license for Hisense to use the Sharp brand name was for five years with an option to renew.
This deal was significant because it gave Hisense a stronger foothold in the US market. It also exposed the weakness of Japanese TV makers when they were competing against companies like Korean LG, Samsung and Chinese TV makers. At the time, Japanese TV makers were struggling while Korean and Chinese TV brands were increasing their dominance.
