West Coast New Area

Sports sponsorship sees Hisense rise to second in global TV shipments

(China Daily) | 2024-06-17

This year, home appliance maker Hisense appeared for the third time at the UEFA European Championship, marking its fifth sponsorship of a top football event. With five Chinese companies present at the 2024 European Championship, China has emerged as the leading nation of top sponsors for the tournament, showcasing the increasing influence overseas of Chinese brands.

"Go global" has become a consensus among many Chinese manufacturers. The focus is no longer just about quantity in foreign trade sales but shaping excellent brands through high-quality global expansion.

For companies aspiring to globalize, sports marketing may serve as a significant route for enhancing brand influence and international development. Since 2008, Hisense has been trying to sponsor events such as the Australian Open, using sports as a medium to engage with foreign consumers and explore the effects of localized event marketing on brand building.

Hisense's choice of sports marketing is rooted in a steadfast commitment to building a global independent brand. Its decision to sponsor world-class events stems from its aspiration to become a globally excellent enterprise.

Insiders said that world-class brands such as Coca-Cola, Sony and Samsung have all achieved brand elevation and monumental business growth through long-term partnerships with top-tier sports events. Samsung has sponsored 10 Olympic Games and its international renown and influence today are closely tied to its enduring support for various top-tier sports events, they said.

Over the past 16 years, Hisense has enhanced its global brand influence through sports marketing. This approach has not only addressed the problem of introducing a brand unfamiliar to international customers but has fostered trust through a long-term perspective, accelerating the brand's global expansion.

Hisense sponsored the European Championship for the first time in 2016. According to third-party research data, from 2016 to 2023, Hisense's brand awareness overseas increased and the company has been among the top 10 Chinese global brands for seven consecutive years, according to an influential report.

In terms of Hisense's revenue, the amount surpassed 100 billion yuan ($13.79 billion) in 2016 and it achieved more than 200 billion yuan for the first time in 2023. During the period, the company's overseas revenue has grown from 23.4 billion yuan to 85.8 billion yuan respectively, accounting for some 23 percent and about 43 percent of total revenue.

In the global television market, Chinese brands have secured three out of the top five spots since 2022.Hisense has maintained the second position for two consecutive years.

Hisense's TVs not only have a high ranking in Chinese, Japanese and South African markets but experienced a growth in shipments to the European market in the first quarter of this year.

In 2023, Hisense's refrigerators sold well in the United Kingdom, the Czech Republic, Hungary, Slovenia, Croatia, Serbia and South Africa. Among Chinese companies in the first quarter of this year, Hisense refrigerators led sales volume market share in Europe.

According to a market research organization, Hisense's commitment to technological innovation, overseas expansion of proprietary brands and sports marketing has been driving its global market growth in recent years. Hisense's self-developed laser TVs have become popular in the high-end overseas market.

For Hisense, sponsoring top-tier global sports events is not just a marketing activity. It hopes to take the opportunity to improve its research and development, manufacturing and management to join the ranks of world-class enterprises.

To strengthen its collaboration with FIFA and UEFA, Hisense allocates a significant amount of R&D funds each year to upgrade its products. This continuous investment has rapidly enhanced product capabilities, providing consumers with a better viewing experience.

Hisense's top-tier global sports event marketing is backed with its strong products and technologies. It hopes to demonstrate its technological innovation capabilities and achievements to the world and secure global consumers' praise.