Dubai: Chinese electronics company Hisense is fighting to stay ahead with its next generation TV display technologies to be launched next year.
Terry Wang, general manager of Hisense Middle East, said that the company has been investing a lot on R&D and it is going to bear fruit next year.
He said the 100-inch Laser Cinema TV is a short-throw projector unit which can produce a 100-inch viewing area with only a distance of 50cm from the wall. It produces Full HD resolution and consumes 60 per cent less power compared to similar-sized LCD TV.
It is expected to be priced at around $20,000 (Dh73,500), less costly than the same-sized LCD TV. It is also portable and expected to be launched in the second half of next year.
He said the technology does not cause strain to the eyes even after hours of viewing and incorporates its Vidaa operating system.
Even though the world’s largest TV panel maker is late into the curved 4K TVs, Wang is off the view that Hisense will offer much value-added features than the ones currently available in the market and at a lesser price.
“Our strategy is for long-term and we are here to stay compared to many Chinese brands which have vanished in the past 10 years. In the last three years, we have been growing and capturing market share and exploring opportunities,” he said.
In the UAE, Hisense enjoys around six per cent market share. Hisense celebrated 45 years few days back.
Hisense’s global sales revenue is expected to exceed 100 billion yuan ($16.3 billion, Dh59.9 billion) for the first time this year.
Dr Omar Ghanayem, technology division director at Grand Stores, distributor of Hisense TVs in the UAE, said that the TV market is dominated by two brands — Samsung and LG — and rest all are fighting for market share by burning money.
“We follow a different strategy. Instead of attacking the low-cost TVs, we started attacking the high end. There is no point of doing business for the sake of doing business,” he said.
In October, Hisense had a 16 per cent market share in large-size TV business in UAE, fuelled by aggressive Gitex promotions.
According to GfK data, Hisense is ranked fourth in the UAE after Samsung, LG and Sony.
Grand Stores sells 3,500 units in organised channels in the UAE.
“The cream of the business is in large-size panels. Our strategy is to change the consumers mind and offer high-end specs for a competitive price,” Ghanayem said.
Wang believes it has won the trust of consumers and is well-positioned to match the world’s top companies. Teaming up with Lotus F1 in Italy, US and in Abu Dhabi Grand Prix races is going to add more value to our brand.
On whether it has become profitable, he said that Hisense has been investing for the past three years in the region and hopes to make profits in the next two years.
“Our intention is to become the first green Chinese brand in the next three years,” he said.
The company expects 100 per cent growth in revenues next year to $100 million compared to $50 million this year.