On June 12th news, according to Japanese media reports, SHARP in the days before the court in the American state of California filed a lawsuit against Hisense group, to recover the right to use the brand of North American tv.
SHARP had the North American market for 5 years the right to use the brand to Hisense TV, but now Hisense sales low quality products to harm SHARP reputation on the grounds, asked Hisense to stop using the brand, and at least $100 million compensation.
SHARP said Hisense was violating contracts with SHARP branded products that sell low quality and low priced products. Japanese media said, SHARP in April this year has written notice of termination of Hisense contract, but Hisense continues to SHARP brand for sale.
Japanese media had previously reported that SHARP is Hon Hai after the acquisition, SHARP President Dai Zhengwu took over, began to change strategy, and actively expand the overseas market. SHARP in Foxconn under the direction of Hisense had proposed to repurchase
According to Taiwan media reports, SHARP has successfully bought the European TV brand, to return to the European TV market.
Last month, SHARP released results notice, is expected by the end of March 2018 the end of the fiscal year profit will be 59 billion yen ($530 million) last year, reversing the loss of 24 billion 900 million yen, this will be the first time in 4 years, SHARP recorded a net profit.