Hisense Marks a Significant Revenue Achievement
Hisense Group, a renowned name in the realm of consumer electronics and home appliances, has recently celebrated a pivotal milestone. Their overseas business revenue has exceeded an impressive $12.2 billion USD for the fiscal year 2023. This announcement was made during the company's 55th-anniversary celebrations, where future growth goals were also discussed.
Strategic Expansion and Technological Breakthroughs
Over the last five years, Hisense has made tremendous strides in its global operations, significantly increasing its market presence. Key strategic moves, such as acquiring SanDen Corporation and developing advanced AI picture quality chips, have propelled Hisense into new markets and improved its technological edge. Notably, the company's overseas revenue has more than doubled since 2019. Meanwhile, the overall revenue for Hisense Group surpassed $28.7 billion USD in 2023.
Future Goals and Vision
During the anniversary event, Chairman, Mr. Jia Shaoqian, delivered an inspiring speech titled "Faithful as in the Beginning, Creating the Future." He detailed the company’s future intentions to establish a high-quality development model by utilizing industrial clusters, embracing green and low-carbon practices, and shifting towards a globally-centric management approach.
A Focus on Innovation and R&D
Mr. Jia emphasized the company's commitment to bolstering competencies in technology and products, alongside integrating cross-cultural aspects to enhance global competitiveness. Hisense plans to continue its emphasis on brand development, aiming at the high-end market with determination.
Commitment to Research and Development
Innovation remains fundamental to Hisense’s strategy, with approximately 5% of its annual revenue dedicated to R&D. Of this amount, 30% is invested in pre-research efforts aimed at addressing user needs and enhancing satisfaction. This long-term investment approach ensures that Hisense products and technologies create real value for consumers.
Strengthening Global Presence
Hisense's commitment to establishing a robust global footprint is evident through its extensive infrastructure, which includes 36 industrial parks, 30 R&D centers, and 64 international offices. The company’s "5+1" network spans across regions such as Europe, the Americas, ASEAN, and the Middle East, promoting localized manufacturing and technological research.
New Manufacturing Facilities
To support its growth, Hisense is actively investing in new production capabilities in Africa, while concurrently enhancing localization efforts in ASEAN and Latin America. These strategic endeavors position Hisense to better serve their customers and consolidate their competitive standing in the global marketplace.
Vision for the Future
Hisense envisions itself as a century-old firm, diligently working towards enhancing corporate governance by adhering to global best practices, promoting board diversity, and establishing a sound management structure. Through these efforts, the company aims to elevate its governance standards and progress towards becoming a world-class enterprise.
About Hisense
Hisense stands as a premier global brand in home appliances and consumer electronics, as well as an official partner of the UEFA EURO 2024™. According to industry reports, Hisense is ranked No. 2 worldwide for TV shipments and No. 1 in the 100" TV segment for both 2023 and the first half of 2024. The company’s rapid expansion has seen its operations grow across over 160 countries, specializing in multimedia products, home appliances, and smart IT solutions.
Frequently Asked Questions
What recent achievement did Hisense announce?
Hisense announced that its overseas revenue surpassed $12.2 billion USD for the fiscal year 2023 during its 55th-anniversary celebrations.
What strategic moves has Hisense made recently?
Hisense acquired SanDen Corporation and developed AI picture quality chips, aiding its expansion and technological capabilities.
What does Hisense plan for its future?
The company aims to develop a high-quality management model and transition towards a globally centered approach while embracing green practices.
How much does Hisense invest in R&D?
Hisense allocates approximately 5% of its annual revenue to R&D, with a significant portion directed to pre-research activities.
In how many countries does Hisense operate?
Hisense operates in over 160 countries, showcasing its broad international presence in the consumer electronics market.
