The subsidiary of electronics giant Sharp said this in a statement Thursday after Asanzo said earlier this week that it has a business partnership with a company called Sharp-Roxy Hong Kong, a business alliance between Sharp and Roxy Electronic Company Ltd.

However, Sharp Vietnam says the Sharp-Roxy Hong Kong business alliance was terminated on October 31, 2016, therefore it would be impossible for Sharp-Roxy Hong Kong to issue a partnership document to Asanzo on September 12, 2019.

"It is obvious that the document introduced by Asanzo in their press conference on Tuesday is counterfeit," Sharp Vietnam’s statement said.

This action seriously damages the Sharp brand, and it is currently exploring the possibility of legal action against Asanzo, it added.

An Asanzo release has responded that it was "surprised" by Sharp’s statement.

Asanzo chairman Pham Van Tam told VnExpress that the document in question was sent to Asanzo by a Chinese partner who is a tier one supplier to Sharp-Roxy Hong Kong.

"We are working with the Chinese partner and Sharp Electronics Vietnam on this matter and will inform the press later," Tam said.

Asanzo, a Ho Chi Minh City-based home appliances maker that dominates the rural market, is being investigated for importing components from China and replacing "made in China" stickers with Vietnamese ones.

The investigation, which has been going on for three months, came after local newspaper Tuoi Tre reported in June that the company did not manufacture any of the components for its products and imported everything from China.

Asanzo has countered that it imports about 70 percent of components from China and makes other parts, like TV plastic cases and remote controls, in Vietnam.

Asanzo, founded in 2013, has the fourth largest market share in Vietnam's TV market. It has also expanded into the refrigeration, consumer electronics, home appliances, and smartphone segments.

In just three years, it accounted for 70 percent of the TV market in rural areas and 16 percent nationwide.