According to Kyodo News, Chinese home appliance giant Hisense Group has acquired the rights to the "TOSHIBA" television brand for a period of 40 years. This means that in the future, Hisense will be able to market and sell TOSHIBA-branded TVs globally. The move is expected to help boost Hisense’s brand visibility, increase sales, and elevate its market positioning on an international scale.
Japan's traditional electronics manufacturing sector has been struggling for years. Hisense has been selling its own branded products in Japan at prices that are 2 to 30% lower than those of major Japanese domestic brands, which has further hurt the competitiveness of local companies. On the 14th of this month, Toshiba also sold its unprofitable TV business to Yamashina for approximately 12.9 billion yen, or around 760 million RMB. The deal is expected to be finalized by February 18th.
However, Hisense now faces some challenges. In 2015, Toshiba decided to exit overseas markets and instead focused on licensing the TOSHIBA brand to different regional partners. For example, in North America, Compal Computer handles TOSHIBA TVs, while in Europe, Vestel manages the brand. Skyworth is responsible for selling TOSHIBA TVs in Asia. With Hisense now holding the 40-year license, it will need to figure out how to coordinate with these existing licensees and avoid internal competition.
Moreover, when Toshiba's current contracts expire in the first half of next year, it plans to remove its billboards from Times Square in New York City. It will also stop sponsoring the long-running Japanese TV programs "Miss Conch" and "Sunday Theater" by the end of next year. These moves are part of Toshiba’s broader strategy to cut costs and restructure its operations.
From a business perspective, even though the TV industry may be declining, the TOSHIBA brand still carries significant value. Hisense can capitalize on this opportunity, which is a common trend in the global business landscape. At this point, Hisense not only owns its own brand but also holds a 40-year license to use the TOSHIBA TV brand. Additionally, it has a license for the Sharp brand in North America. Hopefully, Hisense will leverage these valuable assets to offer more diverse and competitive products to consumers around the world.
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