How Hisense Leads Global Innovation in Manufacturing
Hisense, a leader in consumer electronics and home appliances, achieved a significant milestone by surpassing US$12.2bn in overseas business revenue for fiscal year 2023.
The accomplishment highlights the company's successful expansion of its global manufacturing capabilities and commitment to technological advancement.
Over the past five years, Hisense has strengthened its manufacturing infrastructure and technological foundation, positioning itself as a global powerhouse. Key acquisitions, such as that of the SanDen Corporation, have played a crucial role in boosting production capabilities.
At the same time, innovations like AI picture quality chips have enhanced its technological prowess in the high-end product market.
Building core competencies
Mr Jia Shaoqian, Chairman of Hisense Group, highlighted the company's strategic goals in manufacturing:
"We continue to strengthen our core competitiveness in technology and products, leverage strong appeal in cross-cultural integration and enhance global competitiveness in building a brand matrix. Hisense will persist in developing our brands, aiming for the high-end market and resolutely striving to become world-class!"
The company's focus on core competencies is evident in its substantial research and development (R&D) investment. Approximately 5% of annual revenue is dedicated to R&D, with 30% of that investment directed towards pre-research.
The proactive approach enables Hisense to remain at the forefront of manufacturing technology, continually enhancing the quality and innovation of its products.
Expanding a global manufacturing footprint
Hisense's global manufacturing presence is extensive, with 36 industrial parks and production bases worldwide. The company is expanding its footprint, particularly in regions like Africa, ASEAN and Latin America, to localise production better and enhance its research capabilities.
The strategic expansion enables Hisense to serve regional markets more effectively and solidify its competitive position in global manufacturing.
The company's growth in the Middle East and Africa (MEA) region illustrates this strategy. Hisense has plans to establish new production facilities, starting in Egypt, to streamline logistics and meet growing regional demand.
The expansion will strengthen Hisense's manufacturing capabilities and contribute to local job creation and economic growth, demonstrating the company's commitment to building robust regional ecosystems.
Commitment to sustainable manufacturing
Beyond expansion, Hisense is focused on implementing sustainable manufacturing practices.
"Hisense will persist in developing our brands, aiming for the high-end market in resolutely striving to become world-class!"
The focus reflects Hisense's dedication to producing high-quality, innovative products while ensuring sustainability and environmental responsibility remain central to its manufacturing processes.
By integrating sustainable practices into its production, Hisense aims to align with global standards and respond to increasing consumer demand for eco-friendly products.
A global network for efficient production
With an impressive global network that includes 36 industrial parks, 26 R&D centres and 66 overseas companies, Hisense is well-positioned to lead the industry in diverse product offerings.
The company's strategic regional headquarters in Dubai and five offices across the MENA region enable efficient production, innovation and distribution to meet evolving consumer needs in various markets.
Future-proofing through technological innovation
Hisense's manufacturing strategy combines global expansion with localised production, underpinned by a strong focus on technological innovation.
By enhancing its global manufacturing footprint and investing heavily in R&D, the company is poised for continued growth and success in the highly competitive consumer electronics and home appliances market.
Through strategic initiatives, acquisitions and a commitment to sustainable practices, Hisense has successfully positioned itself as a world-class manufacturer.
The company's achievements include its expanding capabilities and dedication to quality, innovation and environmental responsibility in every product it creates.
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