Hisense eyes Africa for bigger global footprint

Hisense is among the first group of Chinese home appliance companies to go global, with a South African branch established in 1996 as its first stop. [Photo/Qingdao News]

Just before the opening of the 2024 Summit of the Forum on China-Africa Cooperation, the Hisense Egypt TV factory project was signed, which was another significant achievement for Qingdao enterprises expanding their global footprint in Africa.

The Hisense Egypt TV factory project covers an area of about 200 mu (13.33 hectares), and is expected to start production next year. In addition to meeting local demand in Egypt, the TVs will also be exported to 21 countries and regions, including the Arab League, North Africa, and East Africa before gradually expanding into West Africa, the European Union, and the Americas.

Hisense was among the first group of Chinese home appliance companies to go global, with a South African branch established in 1996 as its first stop. In 2013, Hisense and the China-Africa Development Fund jointly invested $350 million to establish the Hisense South Africa Industrial Park, which was selected as a fine example of South-South cooperation by the United Nations.

In 2023, Hisense's overseas revenue reached 85.8 billion yuan ($12 billion), accounting for 42.5 percent of the total revenue, and Hisense has ranked in the top 10 of China's global brands for eight consecutive years. Hisense TV's global shipments have remained second in the world for two consecutive years. The establishment of the Hisense Egypt TV factory will further accelerate Hisense's global localization.

Hisense currently has 34 industrial parks and production bases worldwide, plus 26 research and development centers; it has also established a global layout integrating research, production, sales, and services.