Hisense to Build Two New R&D Centers of Help Speed Up Global Growth
Hisense Group a home appliance maker is planning to create two research and development centers in Japan and Israel within the year, with plans to accelerate global growth. The two new facilities is expected to boost the company’s research and development capability in the high end products and speed up its implementation of a long term product development strategy.
Japan has already laid a solid foundation in home appliances manufacturing and in the research and development and Israel is leading in global innovation in several sectors. So far the company has 17 subsidiaries overseas and nine research and development centers in the United States and in Europe. Last year sales revenue is around 99 billion yuan and is ranked first among China’s TV producers based on market shares for 12 straight years and its global market share have reached 5.6 percent following South Korea’s Samsung Electronics and LG Electronics. Hisense is eyeing in becoming a global company and its overseas sales value is said to reach $4 billion and is 50 percent of overall revenue for the next three to five years.
Just last year, Hisense bought Sharp’s TV business in Mexico and also acquired Sharp’s America’s TV line in the north and south American markets. Meanwhile in Europe, Hisense is building a network that will cover Spain, United Kingdom, Italy and France with regional head office based in Germany. Hisense also became the official UEFA Euro 2016 partner and the official partner of the 2018 World Cup European qualifying match making them the first Chinese sponsor in the 56 year history of UEFA Euro. By becoming partner it will help Hisense advertise their products in an array of venue and products including exhibition halls, LED billboards and display areas for fans and tickets.