West Coast New Area

Chinese giant Hisense one of the most active international companies

By Xie Chuanjiao in Qingdao, Shandong province | ( | 2022-12-09


Hisense's logo. [Photo provided to]

China's home appliances giant Hisense shipped 19.6 million TV sets globally in the first 10 months this year, up 18 percent year-on-year, ranking second worldwide, the first time that a Chinese TV brand made it to the top two, according to recent statistics by market research organization AVC Revo.

Dong Min, deputy secretary-general of China Video Industry Association, predicted that two of the world's top three TV brands will be from China in the near future.

A two-time FIFA World Cup sponsor since 2018, Hisense is the epitome of how Chinese products have marched from the backstage to center stage, evolving from followers to leaders in the global market with increasing competitiveness and growing popularity among international consumers.

Over the past 12 years, Hisense's world TV market share has grown from less than 5 percent to over 12 percent.

Hisense has been one of the most active Chinese companies in the international market in terms of merging and acquisition. Since 2017, it acquired Toshiba's TV business, European home appliance manufacturers Gorenje and car-use air conditioner maker Sanden Holdings. When it bought Toshiba TV, the market was not optimistic, but it took only 15 months to turn the latter profitable, ending its eight-year losing streak.

At the same time, the company adheres to constant independent innovation, pursuing stable product quality and market adaptation. It has developed the world's first folding-screen TV and the world's first bent-screen 8K laser TV, representing its breakthroughs in the ULED and laser display technologies.

With more than 50 years of expertise in the display business, Hisense has built an industry chain that covers chips, core devices, software, display technology, cloud platform and application services. This allows the company to launch diversified display solutions, which serve as a "steppingstone" for Hisense in the face of global users.