China’s Hisense makes foray into Thai consumer electronics market

The company is initially selling its television sets in 120 Tesco Lotus stores before offering a full range of household appliances including refrigerators, freezers, washing machines, air-conditioners and mobile phones in Thailand early next year.
 Hisense last year generated total revenue of US$15.9 billion (Bt560 billion) worldwide.
 Catherine Fang, vice president of Hisense International Co, said the company’s businesses had expanded around the globe, tapping into markets in Asia, Europe and North America. It is moving into the Thai market because it believes it has high potential.
Finn Zhang, managing director of Hisense International (Thailand) Co, said: “Thailand’s TV market has a total value of Bt30 billion.
To fight the intense competition with international and Thai brands, Hisense plans to focus on the outstanding quality of its TV products and the Hisense TV management strategic model, which have earned it great success and positive customer responses all over the world.”
Fang said: “Thai consumer behaviour is changing rapidly. The focus has shifted from price to design, innovation and quality. Large televisions with a 55-inch screen and 4K high-resolution technology receive very good responses from the market.”
 Hisense is launching middle-to-high-end LED television sets ranging in size from 32 to 85 inches, its patented ULED screen with user-friendly smart VIDAA operation functions, and high-dynamic range (HDR) technology to improve the picture and colour quality with 4K ultra-high definition.
Its target consumers are those who use the Internet, are familiar with technology and look for a quality TV with a modern design and a competitive price. It will use a sport marketing strategy to reinforce brand awareness in Thailand and the world.
It was an official sponsor of European Championship 2016 in France, is a sponsor of Formula One Red Bull Racing team, and is the main sponsor of Australian Open Tennis Championships with the right to name the main stadium in Melbourne “Hisense Arena”.
“We also plan set up a regional hub for sales, services, R&D and production in Thailand in order to expand our business into the CLMV countries,” Fang said, referring to Cambodia, Laos, Myanmar and Vietnam.