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August 13th saw Taiwan-based Foxconn Technology complete its $3.8 billion purchase of electronics giant Sharp. Sharp is based in Osaka, Japan, and is reportedly looking to re-enter the European and American markets for high-end TVs.
August 13th also saw Sharp’s CEO, Kozo Takahashi, step down and replaced by Foxconn’s Tai Jeng-wu as chief executive.
Foxconn’s good fortunes come from assembling iPhones, and now those profits seem destined to be invested in reversing Sharp’s exit from the TV business.
Last year saw Sharp license its ‘Aquos’ brand to Slovakia’s Universal Media Corp (UMC) for Europe, and Hisense for the US. Japan’s Yomiuri newspaper reported that Sharp was now seeking to buy back the TV businesses in Europe and the US, and re-establish the Sharp brand as a global presence.
Sharp, in a statement, said: “We have decided to review our current brand licensing business in Europe and Americas, and are currently examining various possibilities.