Hisense's Rapid Global Growth and Future Goals
Hisense, a leading global brand in consumer electronics and home appliances, has recently achieved an impressive milestone with its overseas revenue surpassing $12.2 billion. This noteworthy accomplishment was disclosed during their 55th-anniversary celebration, which also marked the unveiling of their ambitious future goals.
A Decade of Progress and Technological Innovation
Over the past five years, Hisense has significantly broadened its international presence and made substantial advancements in technology. Major milestones include the acquisition of SanDen Corporation and the development of AI picture quality chips. These strategic moves have enabled the company to penetrate new markets and enhance its technological prowess. Remarkably, Hisense’s overseas revenue has more than doubled since 2019, contributing to a total Group revenue exceeding $28.7 billion.
Leadership Vision on Future Endeavors
During the anniversary event, Hisense Group Chairman, Mr. Jia Shaoqian, delivered an inspiring speech titled "Faithful as in the Beginning, Creating the Future." In his address, he articulated several future objectives, such as positioning the company as a model for high-quality development by utilizing industrial clusters. Hisense aims to transition towards more sustainable, low-carbon operations, and expand its global influence through a shift from a China-centric approach to a genuinely global management model.
Commitment to Innovation and R&D
Hisense is deeply committed to innovation, allocating approximately 5% of its annual revenue to research and development. Notably, 30% of this R&D budget is directed towards pre-research, ensuring that user needs and technological advancements align for maximum customer satisfaction. This strategic focus enables Hisense to continually evolve its product offerings, reinforcing its position in the marketplace.
Expanding Manufacturing Footprint Worldwide
With 36 industrial parks, 30 R&D centers, and 64 international offices, Hisense is solidifying its global operational footprint. The company is poised for growth by enhancing its manufacturing capabilities across diverse regions. In particular, initiatives in Africa involve establishing new production facilities, while efforts in ASEAN and Latin America focus on localizing production and research capabilities. These actions are aimed at better serving customers and bolstering Hisense's competitive stance.
Strategic Investments in Middle East and Africa
In line with its ambitious growth strategy, Hisense is executing significant investments in the Middle East and Africa (MEA) region. Recently, the launch of a state-of-the-art research and development center in Dubai highlights Hisense's commitment to innovation within the region. The company is set to establish new production facilities in Egypt as part of its efforts to enhance logistics, expedite deliveries, and generate local employment, thereby contributing positively to the region's economic landscape.
Governance and Corporate Responsibility
Hisense aspires to become a "Century-old Company," dedicating efforts to improve corporate governance by adopting global best practices. The company is committed to enhancing its governance structures and promoting board diversity as part of this objective. Such a commitment will facilitate Hisense's journey towards becoming a world-class enterprise.
About Hisense
Established in 1969, Hisense has grown into a global leader in home appliances and consumer electronics, operating in over 160 countries. Specializing in multimedia, home appliances, and IT solutions, Hisense emphasizes integrity, innovation, and sustainability in its operations. Over 50 years of industry experience have allowed Hisense to develop high-quality products backed with exceptional after-sales services and extensive warranties.
Innovative Product Offerings
The company is at the forefront of cutting-edge technologies, producing advanced products such as the Laser TV and ULED Local Dimming Backlight controls. Their dedication extends beyond consumer electronics to B2B sectors, covering areas such as intelligent transportation and medical technology.
Global Partnerships and Sponsorships
Hisense proudly owns notable brands including Toshiba TV, gorenje, Kelon, and ASKO, enhancing its market presence significantly. The company sponsors major sporting events, including the FIFA World Cup and UEFA competitions, reflecting its commitment to excellence. In 2024, Hisense will further its sports partnerships through an alliance with Real Madrid tailored for the MEA region.
Frequently Asked Questions
What is Hisense's recent revenue achievement?
Hisense's overseas revenue has surpassed $12.2 billion, showcasing its significant growth in the consumer electronics market.
Which regions is Hisense expanding into?
Hisense is making strategic investments in the Middle East and Africa, establishing new facilities to boost local manufacturing.
What are Hisense's goals for the future?
The company aims to become a global leader in high-quality development, emphasizing sustainable operations and innovation.
How does Hisense approach research and development?
Hisense invests about 5% of its annual revenue into R&D, focusing heavily on meeting user needs and advancing technology.
What notable acquisitions has Hisense made recently?
Hisense acquired SanDen Corporation, which has been pivotal in enhancing the company’s technological capabilities and market reach.
