Chinese white-goods maker Hisense Group has reached a reconciliation agreement with German company Bosch-Siemens on its similar trademark "HiSense" with a capital 'S'.
A joint statement by both companies says that following negotiations Bosch has agreed to transfer its "HiSense" trademark, which is registered in Germany and other European countries to the Hisense group.
Bosch will withdraw its accusation against Hisense and the Chinese company will withdraw its application to register the Bosch trademark in China.
According to the statement, China's Ministry of Commerce and the Association of China's Household Appliances have played a crucial mediating role in the talks.
Hisense has previously tried to buy the "HiSense" trademark held by Bosch-Siemens but the deal failed over the sky high price asked by the German firm.
(CRI.com March 9, 2005)