Sharp To Re-Enter TV Market
Sharp, who exited the Australian TV market before the roll out of Ultra High Definition TV’s is looking to re-enter the market with an 8K TV range in 2020.
Foxconn executives in Hong Kong recently told ChannelNews that the Companies priority is to re-enter the US TV market and that they will “Later this year look at markets such as Australia”.
The Company has also re-engaged with archrival Hisense.
Foxconn who acquired Sharp in 2017 had to resort to legal action against Chinese TV maker Hisense to get their TV brand back claiming in court documents, various patent violations and charging that Hisense was hurting the brand by marketing lesser-quality TVs.Initially Sharp who had signed a five-year licensing deal with Hisense in early 2015 attempted to buy back the brand after its acquisition by Foxconn in 2017.
The Japanese brand plans to re-enter the US market in September with a range of 8K TV’s
Sharp’s presence at the 2019 CES, after a four-year hiatus heralded a new era for the brand. In Australia retailers have told ChannelNews that the “brand has a lot of potential” they said that consumers see it as a premium brand that could replace archrival Sony who are tipped to pull out of TV’s.
Sharp management believe that they can deliver an 8K/4K ecosystem encompassing displays and end-to-end devices that will support that ecosystem beyond merely display, touching on imaging, editing, data storage and management, distribution, broadcast infrastructure, and other related equipment and technologies.
At a press conference in Japan last week a Company executive said ” “Sharp will further accelerate transformation of its business to innovate the world with 8K/4K Ecosystem + 5G and AIoT.”
“We’re currently expanding our home appliance product portfolio, and now, with the addition of television products, we’ll be able to go to market for our dealers and our customers with a broader assortment of Sharp products in both the living room as well as the kitchen,” Jim Sanduski, president of Sharp Home Electronics Company said.
“It’s an opportunity for our entire team to bring back what I’d call a cherished, best-of-breed, high-quality, highly renowned video brand into the market We’re thrilled, and it gives us the one-two punch on the TV side and the appliances side. We are preparing for a dynamic and energizing re-launch under the ribs of the umbrella of the Sharp Corporation and Sharp Electronics.