Hisense is a Chinese multinational conglomerate that specialises in the manufacture of electronics and appliances, with a particular focus on televisions, home appliances, and smart technology. Founded in 1969 and headquartered in Qingdao, Shandong Province, it’s grown to become one of the largest and most recognised consumer electronics brands globally. The company operates under various brand names, including Hisense, Toshiba (for TVs in certain regions), and Gorenje (for home appliances), and has a strong presence in over 160 countries.
Early Hisense History and Foundation
It began its journey as Qingdao No. 2 Radio Factory, a small radio production factory in China. Over the following decades, the company expanded its product offerings, gradually moving from radios to televisions, which became the cornerstone of its business. In 1979, the company produced its first TV under the brand name Qingdao General Television Factory, which was later rebranded as Hisense.
Throughout the 1980s and 1990s, Hisense expanded its operations significantly, diversifying into other electronics and home appliances. By the mid-1990s, the company had begun producing air conditioners, refrigerators, and other home appliances, establishing itself as a major player in the Chinese market.
Product Evolution and Core Offerings
Hisense’s product portfolio is extensive, covering a wide range of consumer electronics and home appliances. Some key product categories include:
1. Televisions:
It’s best known for its televisions, which have become the company’s flagship products. The company produces a wide range of TVs, from budget-friendly models to high-end smart TVs with advanced features. Hisense TVs are known for their competitive pricing, innovative technology, and excellent picture quality. The company has been at the forefront of adopting new TV technologies, including 4K, UHD (Ultra High Definition), QLED, and OLED displays.
It also offers ULED (Ultra LED) technology, which enhances picture quality through advanced local dimming, higher peak brightness, and a wider colour gamut. ULED TVs, such as the Hisense H9G and H8G Quantum Series, have received positive reviews for their value and performance, often being compared favourably against more established brands like Samsung and LG.
2. Home Appliances:
In addition to TVs, Hisense manufactures a broad range of home appliances, including refrigerators, air conditioners, washing machines, and dishwashers. The company’s appliances are designed to be energy-efficient and reliable, catering to a wide range of consumer needs. Hisense’s refrigerators, for example, are known for their innovative features such as multi-door designs, smart cooling systems, and sleek aesthetics.
3. Mobile Phones and Tablets:
It has also ventured into the mobile technology sector, producing smartphones, tablets, and other mobile devices. While not as prominent as its TV and appliance business, Hisense’s mobile devices are popular in certain markets, particularly in Asia and Africa, where they are known for offering good value for money.
4. Smart Home and IoT:
As part of its push into smart technology, Hisense has been developing products that integrate with the Internet of Things (IoT). This includes smart home devices that can be controlled via a smartphone app, such as smart air conditioners, smart refrigerators, and connected TVs. Its vision for the future is centred around creating a connected ecosystem where all household devices can be easily managed and automated, enhancing convenience and energy efficiency.
5. Laser TVs and Projectors:
It’s also a leader in the development of Laser TV technology, which uses laser light to project images onto a screen. This technology offers several advantages over traditional LED and OLED displays, including a larger screen size, reduced eye strain, and lower power consumption. Hisense’s Laser TVs, such as the Hisense L5F and L10E series, provide a cinematic experience at home and have been well-received by consumers looking for large-format viewing options.
Global Expansion and Market Presence
Hisense’s global expansion began in earnest in the 2000s, as the company sought to establish itself as a major international brand. This expansion was marked by strategic acquisitions and partnerships, allowing it to enter new markets and increase its global footprint.
One of the significant milestones in its international growth was the acquisition of Sharp’s TV business in North and South America in 2015. This move gave Hisense access to Sharp’s manufacturing facilities, brand name, and distribution network in these regions, helping the company quickly establish a presence in the competitive American market.
In 2018, Hisense further strengthened its position in the global market by acquiring a controlling stake in Gorenje, a Slovenian appliance manufacturer. This acquisition helped it to expand its product range and gain a stronger foothold in the European market.
Today, Hisense operates in over 160 countries and regions, with manufacturing facilities and R&D centres located worldwide. It’s become particularly strong in markets like Europe, North America, and Australia, where its TVs and appliances are well-regarded for their quality and affordability.
Technological Innovation and R&D
Hisense places a strong emphasis on research and development, with a significant portion of its revenue reinvested into R&D each year. The company operates several R&D centres globally, focusing on areas such as display technology, smart home integration, and energy-efficient appliances. Its commitment to innovation is evident in its continuous rollout of new products and technologies that push the boundaries of what consumer electronics can offer.
For example, it’s been a pioneer in developing Laser TV technology, which uses laser light to project high-definition images. The company’s TriChroma Laser TV, which combines three lasers to cover nearly the entire colour spectrum, represents the latest advancement in this field, delivering unprecedented colour accuracy and picture quality.
It’s also actively involved in developing AI-driven features for its smart TVs and appliances, such as voice recognition, automated settings, and predictive maintenance. These innovations are part of the company’s broader strategy to lead in the smart home market.
Market Position and Competitive Landscape
It competes with other major electronics and appliance manufacturers such as Samsung, LG, Sony, and TCL. While it is often considered a challenger brand in many markets, Hisense has distinguished itself by offering high-quality products at competitive prices. This value proposition has helped the company build a strong brand presence, particularly in the television market.
In the highly competitive TV market, it’s managed to capture significant market share by offering a mix of affordable and premium models that appeal to a wide range of consumers. The company’s focus on picture quality, smart features, and innovative technologies like ULED and Laser TV has allowed it to compete effectively against more established brands.
Conclusion
Hisense has grown from a small radio manufacturer in China to a global powerhouse in the consumer electronics and appliance industries. The company’s success can be attributed to its commitment to innovation, quality, and value, as well as its strategic global expansion. With a diverse product portfolio that includes cutting-edge TVs, home appliances, and smart devices, it’s well-positioned to continue its growth and maintain its status as a leading brand in the global market. As it continues to push the boundaries of technology and expand its presence in new markets, Hisense is likely to remain a significant player in the electronics and appliance industries for years to come.