Contributed by Jim Morrison
Two Years Can Change A Lot
In January of 2013, I spent a lot of time studying DTVs at CES. One of the players that rose above the rest was HiSense. Back in 2013, the Chinese flat panel TV provider spoke of ambitious goals to increase their market share in the USA. Well, here we are two years later and these folks have done what they set out to do. I love it when a good plan comes together.
Three Rapid Growth Factors
Dr. Lan Lin, Executive Vice President at HiSense shared with us the results they are enjoying so far in North America. Dr. Lin credits the results to three main drivers: partners, branding and products.
For partners, HiSense is targeting main street USA. They have developed partnerships with Best Buy, WalMart, Costco and Fryes to name a few. The price points of these TVs are perfect for the average consumer and come in as much as half of what a leading brand would cost you.
The products were analyzed by Chipworks back in 2013 and we saw very good quality TVs employing processors from MStar, MediaTek and Marvell. The quality of workmanship was as good if not better than the major leading brands.
Most folks will agree that branding is a tough one to measure. Anyone in marketing knows that brand recognition is something that must be achieved but is very hard to measure. HiSense is not screwing around when it comes to branding. They just announced that they are sponsors for NASCAR events. Hisense will begin its sponsorship with the Hisense 250 at Atlanta Motor Speedway on February 28, 2015. All they need now is some apple pie and a baseball stadium! If HiSense was able to grow their market share in the USA to 4% in two years without any major branding activity, they certainly will hit main street USA now. Look for HiSense to really threaten Visio, Sony, Samsung and LG’s markets share in the next few years.
Dr Lin gave huge kudos to his team in Georgia and they deserve it. Back in 2013, there were very few people from HiSense who called Georgia their home. This year, I saw a lot of new HiSense faces from the Georgia facility. All were very excited and proud to call HiSense their employer.
Great job HiSense and keep up the great work.
Viva Las Vegas.