Japanese electronics maker Sharp takes over Thai TV manufacturer
TOKYO, NNA - Japanese electronics maker Sharp Corp. took over an 80-percent stake in HiFi Orient Thai PLC, a local television manufacturer, for an undisclosed sum by Feb. 6 to enhance its presence in Thailand amid growing demand.
Sharp made the deal through its Thai unit Sharp Thai Co., a spokesman at Sharp in Japan told NNA on Monday.
The Sharp Aquos brand is currently ranked third with a 9 percent market share, and the takeover of the Thai TV maker with the Aconatic brand will mean the Japanese company becomes the second player with a combined share of 17 percent, the spokesman added.
The Sharp-HiFi Orient partnership would follow the top seller Samsung Electrics Co., which commands about 24 percent share, exceeding LG Electronics Inc. with 15 percent. HiFi Orient, ranked fourth or fifth, owns an 8 percent share, the spokesman noted.
“The ASEAN (TV) markets, including Thailand, have been growing unlike Japan facing a decreasing population,” he explained.
Sharp will keep selling HiFi Orient’s TVs under the Aconatic brand “for the time being,” he said. In Thailand, Sharp sells its non-Japanese-made TVs under the Sharp Aquos brand.