Chinese consumer electronics giant Hisense is setting ambitious targets to solidify its presence in the U.S. television market. Catherine Fang, the President of Hisense International, announced during an exclusive interview that the company aims to become the leading television seller in the U.S. within the next two years. A significant step in this strategy is the partnership with FIFA as the official sponsor of the FIFA Club World Cup slated for June 2025. This collaboration, which was celebrated in a recent event in Shanghai attended by prominent FIFA officials and the chairman of Hisense Group, Jia Shaoqian, is designed to elevate the brand image of Hisense to resonate with sports enthusiasts and the broader consumer base.
Technology will play a crucial role in Hisense’s strategy to improve its market appeal. Fang highlighted the company’s latest innovations, including televisions powered by an in-house artificial intelligence chip, designed to enhance image quality and rendering. Plans are underway to further integrate this technology to enhance audio experiences and to provide interactive features like voice-command athlete statistics. However, precise information on the availability of these innovative features in the U.S. market remains undisclosed. Such advancements place Hisense in direct competition with established brands, emphasizing the necessity for continuous innovation to stand out in a crowded market.
Pricing Strategies and Market Positioning
In terms of pricing, Hisense’s 55-inch U8 TV series starts at approximately $700, with its more expansive models, such as the 100-inch variant, exceeding $3,000. This range reflects the company’s attempt to cater to varying consumer needs—an essential approach for expanding its market share. Current market data corroborates that Hisense shipped the second-highest volume of TV sets in North America during the second quarter, trailing only behind Samsung. This statistic symbolizes an upward trajectory for Hisense, and if it can sustain this momentum, hitting its target of becoming the top seller is conceivable.
Broader Market Ambitions Beyond Televisions
Hisense is not solely focusing on the television segment; it is making significant strides in the home appliances market, such as refrigerators and washing machines, commonly referred to as white goods. Fang revealed that the company also aspires to become the premier Chinese brand in North America for white goods in the same two-year timeframe. This diversification strategy is crucial, especially as the competitive landscape in various segments grows more intense.
Interestingly, while many Chinese companies are just beginning to expand internationally due to a slowdown in domestic growth, Hisense has been building its global business for decades. Currently, around 50% of its revenue is generated outside of China, with North America contributing about 30% of its overseas sales—a significant milestone for any brand. This established global presence could offer Hisense the resilience it needs to sustain and grow its market share amidst increasing competition. As the company embarks on this ambitious journey, it remains to be seen whether strategic partnerships and technological innovations will be sufficient to claim the top spot in the U.S. television market.