Hisense’s game-changing technology and expansion strategies have helped the Chinese company grow faster than the rest of the market overall.
“Over the last two years, Hisense has acquired the Flextronics business in Canada, Archcom Chip in the US, Huaya TV Chip, and Taiwan Laser TV Development,” said Frost & Sullivan Digital Media Analyst Aravindh Vanchesan. “Notably, it announced in 2015 that it was purchasing all the equity and assets of Sharp's TV factory in Mexico with rights to use the ‘Sharp’ brand name and all its channel resources in every market in the Americas. This licensing agreement will help Hisense become a top-tier challenger in this region, and is a serious show of intent by the company to pursue a bigger piece of the consumer market.”
By investing heavily in R&D (5 percent of its $16 billion revenue) and developing cutting-edge technology, the company has demonstrated its has the resources needed to dominate the global television market. Its products provide the ideal mix of price and quality value; for instance, its H7 line of 4K TVs costs less than $600 and boasts 3840 x 2160 resolution, offers 4K up-conversion and is HDCP 2.2 compliant. Other features include dual-band Wi-Fi, one-touch hot keys for launching On-Demand content, and Total Technology from dbx-tv® sound for an immersive listening experience.
The sharing of content between TVs and portable devices through Wi-Fi, Bluetooth, and near-field communication (NFC) is exploding alongside the parallel use of an interactive second screen while watching TV. Hisense has been at the center of this transition with its advances in OS and streaming technology. Its North American R&D team has developed Android OS-powered Smart TVs that can effortlessly deliver broadcast content and streaming video.
“Even in an economic climate marked by diminishing profit margins and consumer demand, Hisense has thrived due to its superior product line strategy,” noted Aravindh Vanchesan. “In recognition of its trailblazing innovations, vertical and global expansion strategies, and continued investment in R&D, Frost & Sullivan is pleased to present Hisense with the 2015 Global Competitive Strategy and Innovation Leadership Award in the Smart TV market.”
Each year, Frost & Sullivan presents this award to the company that has leveraged competitive intelligence to successfully execute a strategy that results in stronger market share, competing brand positioning and customer satisfaction.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
About Hisense USA Corporation and Hisense Company Ltd
Hisense USA Corporation (hisense-usa.com | global.hisense.com) is a wholly owned subsidiary of the Hisense Company, Ltd., established in 1969 and headquartered in Qingdao, China. Hisense USA offers an innovative range of technology products that disrupt the consumer electronics industry, challenge the competition and provide significant value to consumers. Manufactured and distributed across North America, Hisense USA’s product portfolio includes televisions, refrigerators, air conditioners, dehumidifiers, beverage coolers and freezers.
Hisense Company Ltd is multinational consumer technology manufacturer and one of the largest television brands in the world, holding the #3 TV share position globally• and #1 TV share position in China for 12 consecutive years. The Company is committed to advancing the consumer technology industry across North America and has dedicated R&D centers in Atlanta, Georgia; San Jose, California; and Toronto, Canada to enable localized product development and innovation.
Hisense products are available globally in over 130 countries and regions, with production facilities in China, South Africa, Algeria, Egypt, and Mexico, as well as sales offices across North America, Europe, Australia, Middle East, and Southeastern Asia.
In recognition of its strong product offerings, aggressive expansion strategies, global client base and continued investment in research and development, Frost and Sullivan recognized Hisense with the 2015 Global Competitive Strategy Innovation and Leadership Award in Smart TVs.
*Source: IHS data, Q1-Q3 2015
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