Sharp to buy back brand license for white goods in Europe
OSAKA -- Japanese electronics maker Sharp will begin negotiations to repurchase its brand licensing rights for white goods in Europe from Turkey-based Vestel.
The embattled manufacturer sold the rights to use its name on Vestel's household electronics in September 2014. Sharp now wants to reverse the deal.
Sharp parent Foxconn, which has never owned its own brand, wishes to expand Sharp's white goods segment abroad. The Taiwanese company completed payments for investment in Sharp in mid-August, and is now reviewing the electronic maker's overseas business operations.
Sharp had withdrawn from businesses overseas, selling its European television segment to Slovakia's UMC and the U.S. business to China's Hisense. Sharp aims to buy back the licenses from the companies, yet the outlook for negotiations is unclear.