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Business

Sharp to re-enter European TV market with UMC purchase

Electronics maker aims to strengthen global TV operations

OSAKA -- Sharp is set to purchase Slovak consumer electronics maker Universal Media Corp. for around 10 billion yen ($85 million) in an attempt to strengthen its overall TV business by re-entering the European market, the Nikkei has learned.

UMC currently sells TVs under the Sharp brand based on a licensing agreement reached in 2014. Through the planned acquisition, Sharp will effectively buy back the name and give a boost to its TV business, which the company places at the heart of its growth strategy.

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