Hisense announces substantial growth in first half of 2023

Dubai, UAE : Global consumer electronics leader Hisense has announced its financial results for the first half of 2023 across the Middle East and North Africa (MENA) in its TV, Air Conditioning, and White Goods category; confirming substantial growth and major expansion plans within the region.Hisense TV sales saw a positive surge despite the slow market growth. The Laser TV category was seen to be the key category driving growth, recording a sales increase of 23 per cent and 125 per cent year-to-date over 2022 and 2021, respectively. Jason Ou, President of Hisense Middle East & Africa said: “The concept of home cinema is well perceived by the end-users, while Laser TVs’ lower energy consumption and eye friendly features also make our products particularly attractive. Another reason is the increased availability of cinematic content on OTT platforms, which cater to interest levels of a wider population.” Moreover, regional white goods revenue grew by 10.33 per cent wherein air conditioning displayed a subsequent increase of 20 per cent in 2023 as compared to 2022 YTD.  Per Hisense’s new brand strategy, the company is paving its way into the premium segment, owing to its next generation of entertainment and home appliances. To achieve this, Hisense has been increasing its flagship store footprints by creating a wholistic approach, giving the end-users the experience of superior quality, high-performance, and efficiency. While flagship stores can already be found in the UAE, Qatar, and Iraq, Hisense now plans to establish stores in Saudi Arabia, Algeria, and other GCC countries. Ou said new Laser TV and Mini-LED technologies will maintain their growth trajectory in the region’s TV segment, reaching audiences demanding premium products and significantly boosting the brand’s position as both high-quality and aspirational. “In terms of the TV sector, we believe increasing disposable income throughout the region is driving the demand for premium products.”Keeping in mind the industry trends, Hisense has launched a 98-inch Mini-LED TV in Q4 2022 to cater to the premium segment of the market. To date, the response and acceptance of this model is extremely encouraging, and Hisense is looking forward to expanding its market penetration across the region to cater to the growing demand for extra large screens within the LED market segment, Ou added.“Understanding the consumer purchase behaviour, the plan is to soon introduce the region to our next-gen ULED X technology, which promises to make a major breakthrough in the premium TV segment. This will be followed by the launch of the new smart and AI supportive 5S home appliance series with an anticipation that this will stimulate huge category growth in the second half of the year.”There is also a major thrust in expanding the after-sales service department throughout the region in response to its increasing sales and to better service its growing consumer base. The exclusive Hisense Care Hub in UAE and Qatar will soon extend into the rest of the GCC, as well as Iraq and Algeria. For Hisense, the company’s solid MEA performance closes a successful 12-month period that has seen the manufacturer secure a slew of high-profile product awards, including the prestigious CES 2023 Innovation Award and EISA Award for ‘Best Product of the Year’ for its premium 4K Mini-LED ULED TV 65U8HQ, and the Tom's Guide Award 2023 for its 4K UST Triple-Laser Trichroma Projector 100L9H.