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Hisense's overseas development maintains good momentum

(chinadaily.com.cn) | 2019-02-20

Hisense, China's leading electronics maker headquartered in Qingdao, Shandong province, announced on Feb 15 that its overseas earnings rose 30 percent year on year to 37.84 billion yuan ($5.48 billion) in 2018, despite the unfavorable global economic situation.

This positive result stemmed from the company's overseas expansion strategy proposed in 2006 stating that it values overseas market more than domestic market, as well as its continuous efforts to promote self-owned brands in high-end overseas market.

The company has continued to sponsor top events such as European Cup and World Cup to increase its global exposure, and purchasing brands and developing marketing channels to expand overseas.

The company's self-owned brands in overseas market accounted for 60.9 percent of its total brands in 2018.

Statistics show that there was a substantial increase in the sales of its self-owned brands in major overseas markets such as Americas, Europe and South Africa in 2018, with the grow rating being 57.5 percent in American market, 106.1 percent in Canadian market, 14.1 percent in European market, and 41.7 percent in South African market.

Due to its good performance in overseas market, Hisense won a series of honors. It ranked second in a survey report on overseas image of Chinese enterprises released by China International Publishing Group last December. It also won the Best Overseas Image award in China's household appliance industry.

Moreover, Hisense has been selected into Top 10 Foreigner's Most Familiar Chinese Brands for five consecutive years.

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An employee at a Hisense factory in South Africa. [Photo provided to China Daily]

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Hisense slogan "Смотри Hisense" is seen at the football stadium of the 2018 FIFA World Cup in Russia, June 14, 2018. The company was the official sponsor of the 2018 FIFA World Cup. [Photo/sznews.com]