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Hisense, one of China's largest TV makers, and fourth-largest in the world, acquired the North American manufacturing assets of Japan-based Sharp, as well as securing brand name rights for the U.S. market. Now, Hisense manufactures all TVs bearing the Sharp brand name in the U.S. The license for Hisense to use the Sharp brand name has a term of five years from 2015 with an option to extend.