China s TV leader dominates Japan

Mondo Entertainment Updated on 2024-02-01

Author |Huang Yu.

14 years ago,Hisense, a black electric leader from Qingdao, China,Officially entered the Japanese market,At that time, the Japanese TV market was mainly dominated by Sony、Toshiba、Panasonic and other local TV brands。

14 years later, Hisense has dominated the Japanese TV market, and its acquired TVS Regga (formerly Toshiba Image Solutions) and Hisense's own brand rank first and third respectively in the Japanese TV market share.

The rise of the Japanese market is the epitome of the effectiveness of Hisense's globalization strategy.

Recently, Jia Shaoqian, Secretary of the Party Committee and Chairman of Hisense Group, publicly revealed that in 2023, Hisense will break through 200 billion yuan in sales revenue for the first time in history, achieving nearly double-digit growth, of which the proportion of overseas revenue is increasing, from 409% to 426%。

200 billion yuan, which is undoubtedly a milestone figure for Hisense. From 2016Hisense's revenue exceeded 100 billion yuan for the first time,To now Hisense has exceeded 200 billion,There has been an interval of 7 years。

Hisense is one of the earliest companies in China to go overseas. In the list of China's top 50 global brands released by Google and Kantar,Hisense has been in the top ten for three consecutive years,Another home appliance company that is the same is Haier,The base camp of both is in Qingdao。

In 1996, Hisense caught up with the first wave of going to sea, set up a point in South Africa, and took the first step towards internationalization. Since 2006, the "big head overseas" strategy has been proposed, and Hisense's overseas market has maintained a rapid development trend.

Nowadays,Known for pickiness、Regarded as the most difficult to enter the Japanese TV market,Hisense (Hisense TV + Toshiba TV) has surpassed local brands Sharp、Sony and Panasonic,Ranked first in market share; In South Africa, America, Europe, Oceania and other overseas markets,Hisense has a lot of achievements。

As for the reasons for the success of Hisense's globalization strategy, Jiang Han, a senior researcher at Pangu Think Tank, told Wall Street that there are three main points.

First of all,Hisense pays attention to product innovation and technology research and development,Its high-quality products have been widely recognized in overseas markets; secondly,Hisense actively promotes the internationalization strategy,Through the establishment of overseas branches and R&D centers,In-depth understanding of the local market and consumer needs; Finally,Hisense has improved the international visibility and influence of the brand by sponsoring large-scale international sports events.

Zhou Houjian, the former chairman of Hisense Group, who has been at the helm of Hisense for 30 years, is a technology freak, injecting the gene of advocating technology into this company, and has a leading edge in laser display technology, ULED technology and other technologies.

In addition, the most important thing in the globalization strategy is to deepen the localization strategy. It is reported that Hisense has 34 industrial parks and production bases around the world, 25 R&D institutions, 66 overseas companies and offices, which helps it to get closer to the local market and reduce production costs.

It's not enough to just go the right way in technology and industrial chain,Hisense has also created a miracle of sports marketing。 In January 2016, Hisense became the official sponsor of the 2016 European Cup, which is the first Chinese sponsor in the 56-year history of the European Cup.

At that time, the German "Manager" magazine even said: "The biggest winner of this European Cup is Hisense." ”

According to public information,2016After sponsoring the European Cup in France,Hisense has commissioned a market research agency Ipsos to do a survey,Found that the global popularity is37。 In 2022, I did another survey and found that this number has increased to 59%.

Sports marketing strategy has become a booster for the development of Hisense's globalization strategy,It also reflects the change in its market position to a certain extent。

In April 2017, Hisense became the official sponsor of the 2018 World Cup in Russia, replacing rival Sony at that time. The following year, Hisense spent 59The 8.5 billion yen acquisition of TVS Regga, the former television division of Toshiba, which was also an official sponsor of two World Cups.

Hisense Home Appliances revealed,Hisense adheres to the sports marketing strategy,Through sports event sponsorship,Enhance independent brand building。

At the end of last year,Hisense officially announced that it became2024The global official partner of the German European Cup,This is also Hisense following the 2016Euro Cup、2018World Cup、2020Euro Cup、2022After the World Cup,The fifth time to sponsor the world's top football events。

In 2019, Hisense released a bold statement that "revenue will reach 300 billion in 2025". Although it holds Hisense Video, Hisense Home Appliances, Sandian Holdings, and four listed companies, Qianzhao Optoelectronics, but now there are only two years left in the six-year covenant, and Hisense wants to increase by another 100 billion, which is not easy.

Overseas business is the main battlefield for Hisense's impact on 300 billion revenues,This development strategy also runs through the entire Hisense。

Zhou Houjian once said in 2006: "The big head of Hisense in the future is overseas." Jia Shaoqian, who inherited Zhou Houjian's will, also said,Not only will the revenue exceed 300 billion in 2025,Hisense's overseas revenue in the next 5 years may be far more than 50%.

However, Hisense's growth rate overseas is slowing down. In 2022, Hisense's overseas revenue will increase by 3% year-on-year61% to 75.7 billion yuan, a decrease of 29 from the previous year's growth rate39 percentage points.

Although it sits firmly in the top spot of China's color TV market, and shines in overseas markets,But I have to admit that,In the context of the decline of the home appliance industry,Hisense is also in urgent need of cultivating a second growth curve。

In February last year,Jia Shaoqian took over as chairman of Hisense,The company stands at the starting point of a new round of development,Jia Shaoqian shoulders"Rebuild the new Hisense"Expectation。

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