According to the Daily News Agency, Qingdao, a coastal city in China, is renowned not only for its thriving beer industry but also as a hub for major Chinese home appliance manufacturers. In early 2016, Qingdao Haier made headlines when it announced the acquisition of General Electric's (GE) home appliance division. Hisense Group, another rapidly growing player in the flat-panel TV market with annual sales exceeding 100 billion yuan, is also hot on the heels of Japanese home appliance companies in terms of technological advancement.
During a recent visit to the Hisense headquarters and R&D base in Qingdao, I had the chance to explore their flagship TV business. Hisense currently holds the largest share of the Chinese flat-panel TV market, primarily focusing on OLED and LCD TVs. However, Chen Weiqiang, Vice President of Hisense Group, mentioned in an interview that the company plans to shift its focus towards large-screen laser projection TVs in the future. These TVs project images directly onto a curtain using lasers, offering a cost-effective solution.
Currently, 55-inch TVs dominate the Chinese market. Hisense aims to cater to this trend by producing even larger screens. While non-laser TVs with lower screen prices are easier to mass-produce, Hisense sees potential in laser TVs. Their latest laser TV models showcase impressive picture quality comparable to high-end 4K TVs, yet at a fraction of the cost. This aligns with the pricing strategies Chinese manufacturers excel at.
Gao Yuling, a senior executive in Hisense's television department, emphasized that LCD and organic EL TVs face technical limitations, whereas laser TVs present significant opportunities for the future. Hisense is not just focusing on China; they're also making strides in Japan, where they anticipate a surge in demand for laser TVs.
The situation with the Sharp TV brand is quite complex. After signing a five-year agreement with Hisense for the North American market post-2016, Sharp, now under Hon Hai Precision, has filed lawsuits seeking to reclaim its trademark rights in the region. Zhu Xi, Deputy General Manager of Qingdao Hisense International Marketing Co., Ltd., expressed strong dissatisfaction with Sharp's actions, stating that Hisense had invested significant resources to revive the Sharp brand in the U.S., achieving a 47% increase in TV sales and a remarkable 360% growth in 4K TV sales in 2017.
This abrupt move by Sharp reflects a lack of respect and disregard for contractual obligations. Meanwhile, Chinese home appliance manufacturers like Hisense are increasingly matching or surpassing Japanese competitors in cutting-edge fields such as semiconductor devices and medical equipment. As Japan grapples with declining influence in the global market, Hisense and others are stepping into roles once dominated by Japanese giants. This shift marks a pivotal moment in the global appliance industry, signaling the end of the "cheap but not good" stereotype associated with Chinese products.
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