Welcome to Extreme Investor Network, where we bring you the latest insights and trends in the world of finance. Today, we’re diving into the ambitions of Chinese home appliance giant Hisense as they set their sights on becoming the top seller of television sets in the U.S. in the next two years.
In an exclusive interview with CNBC, Catherine Fang, president of Hisense International, revealed the company’s plans to dominate the U.S. television market. To boost brand awareness, Hisense recently secured a partnership with the FIFA Club World Cup, signaling their commitment to becoming a premium brand in the American market.
One of the key innovations driving Hisense’s success is their in-house artificial intelligence chip, which enhances image rendering and promises to revolutionize the viewing experience. With plans to further integrate AI to improve audio quality and offer advanced features like athlete stats via voice command, Hisense is pushing the boundaries of what TV technology can achieve.
In terms of pricing, Hisense’s 55-inch U8 TV series starts at a competitive $700 in the U.S., while the 100-inch version is priced at around $3,000 or more. Despite stiff competition from industry giants like Samsung, Hisense is making strides in the North American market, with a strong focus on expanding their portfolio of advanced TV models.
Beyond television sets, Hisense also sells a range of home appliances such as refrigerators and washing machines, known in the industry as “white goods.” Fang mentioned that Hisense is aiming to establish itself as the leading Chinese brand for white goods in North America within the next two years, showcasing the company’s ambitious growth plans.
While many Chinese companies are looking to expand overseas due to slowing domestic growth, Hisense stands out as a global player with a strong presence in international markets. With half of its revenue coming from outside China and North America accounting for about 30% of its overseas sales, Hisense’s strategic approach to global expansion has positioned them as a formidable competitor in the home appliance industry.
Stay tuned to Extreme Investor Network for more updates on the latest developments in finance and technology, and discover how companies like Hisense are reshaping the future of consumer electronics.