Country for PR: China
Contributor: PR Newswire Asia (China)
Friday, May 21 2021 - 00:40
AsiaNet
Hisense Soars in Brand Value, Aims to Achieve $47 Billion Revenue by 2025
LONDON, May 20, 2021 /PRNewswire-Asianet/ --

Kantar and Google recently launched the "2021 Top 50 BrandZ Chinese Global 
Brand Builders Ranking Report". In a survey of consumer habits over 860,000 
global consumers, Hisense has secured No. 7 on the list and ranked No. 1 in the 
home appliance industry, maintaining in the Top 10 brands for 5 consecutive 
years. In "Top 20 Chinese Star Brands in Emerging Markets", Hisense ranked No. 
8 and No. 1 in the home appliance industry.

Although impacted by the pandemic, Hisense continued brand-building investment 
to grow business overseas. In 2020, Hisense's overseas revenue was $7.93 
billion, accounted for nearly 40% of the total revenue, and the YOY growth was 
18.2%. Data for the first quarter of 2021 shows that Hisense's overseas revenue 
share has exceeded 42%. According to Hisense's globalization strategy goal, 
Hisense aims to achieve $47 billion revenue by 2025, with overseas markets 
accounting for 50% of the total.

"Hisense's globalization must be a comprehensive one of product development, 
manufacturing, branding and marketing," said Jia Shaoqian, President of Hisense 
Group.

Hisense started its overseas trade in 1985, and formally established a South 
African company in 1996 to build its first overseas production base. To date, 
Hisense has 90,000 employees in 54 companies worldwide, with 16 R&D centres and 
16 production bases. From cutting-edge technology innovation to localized 
product design, Hisense gradually accelerates the localization and 
globalization process by continuously strengthening the construction of brand.

Acquiring well-known local brands is a major part in Hisense's globalization 
strategy, which is challenging for Hisense's cross-cultural management 
capabilities. Taking the acquisition of Toshiba Visual Solutions Corporation 
("TVS") as an example, Hisense has adopted the principle of localized 
management. All departmental positions are managed by Japanese managers, and 
deputy positions are appointed from headquarters, which also positively 
stimulates the vitality of the workforce.

Hisense has also won recognition for contributing to local communities. Hisense 
Appliance Industrial Park Project in South Africa was a remarkable case 
mentioned by UNOSSC, as Hisense has not only driven the sustainable development 
of the local manufacturing industry but also creating job opportunities, 
successfully increased financial and social development in South Africa. 

In terms of brand building, Hisense insists on building Sport IP, uses sports 
as a linkage to consumers to enhance emotional communication. Since 2016, 
Hisense has sponsored top events such as Euro 2020 and the FIFA World Cup. 
Also, Hisense has accelerated its globalization and brand rejuvenation and 
achieved a significant increase in its market share and brand equity by joining 
hands with global football club PSG and esports organization FNATIC. 

Currently, Hisense has evolved from a TV manufacturer to a Multi-scenario 
display solution system provider. In addition to the home appliance industry, 
Hisense is also developing smart healthcare, smart cities and smart living to 
build the most trusted and valuable brand in the world.

SOURCE:  Hisense

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   Caption: Hisense ranked No.7 in BrandZ TOP 50 Chinese Global Brand Builders 
2021

   Link: http://asianetnews.net/view-attachment?attach-id=391692

   Caption: Hisense ranked No.8 in BrandZ TOP 20 Chinese Brand Stars 2021

   Link: http://asianetnews.net/view-attachment?attach-id=391693

   Caption: Hisense sponsored EURO 2016 and EURO 2020 consecutively

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Translations

Japanese