China has seen thriving development of large home appliance exports in recent years. In the first quarter of this year, China's exports of household appliances totaled 147.94 billion yuan ($22.9 billion), an increase of 63.4 percent year on year, according to statistics from the General Administration of Customs.
Hisense, a Chinese multinational white goods and electronics manufacturer, took advantage of its role as the first Chinese firm to become a sponsor of UEFA EURO 2016 to vigorously expand its overseas market over the past few years.
"Receiving the endorsement of a top event like the UEFA EURO can save sponsors and brands five to eight years in penetrating overseas markets," said Ding Minghao, a former vice chief operating officer at Shankai Sports, a Beijing-based sports marketing service company.
Hisense saw overseas revenues of 54.8 billion yuan in 2020, accounting for nearly 40 percent of the group's total revenue. Its revenue from the European market surged 113 percent this year compared with the same period last year, with total earnings in key markets such as Poland and France jumping by more than 355 percent and 185 percent respectively.
Other major appliance manufacturers from China such as GREE, Midea and other brands are also scrambling to expand their overseas influence by making their presence felt at globally renowned stadiums, while home appliance brands such as TCL, Meiling and Vatti are looking to integrate into a larger international market by joining hands with internationally influential athletes.
In addition to enhancing their brand recognition among overseas consumers, these Chinese manufacturers are speeding up when it comes to offering more suitable products targeting these markets.
For instance, in targeting the UK market, Hisense adjusted the speed of its tumble dryers from 1,200 rpm to 1,400 rpm, thus reducing the drying time for clothes. In the same vein, Haier, another Chinese multinational home appliances and consumer electronics company, expanded the capacity of its refrigerators for the Pakistan market.
"The global home appliance market is very complex, and each country has its own tax policies, sales channels, customs and consumer preferences. Therefore, before entering a specific market, we will adopt customized strategies," explained Zhang Qingfu, vice president of Haier Overseas Electric Appliances Corp. Ltd.
In the first quarter of this year, Haier's overseas market sales revenue increased by 24.6 percent year on year, while its operating profit rose by 135 percent.
- China’s FAST telescope films magnetic fields nearby fast radio burst
- Taikonauts enjoy ‘home-grown’ meal during Mid-Autumn Festival
- China’s home-produced Omicron-specific mRNA vaccine to start trials
- The United States’ Practice of Forced Labor at Home and Abroad: Truth and Facts
- Chinese mainland suspends natural sand exports to Taiwan
- Rail track installation to start on Bangladesh’s largest bridge
Popular Videos
Hot comments
- First apes at U.S. zoo receive COVID-19 vaccine made for animals, zoo official says
- China Life: Chinese women shine with She Power
- Foreign firms approved to offer VPN services in capital
- Homemade curling videos trending in China
- 86-year-old grandma in Hebei spends most her life on traditional cheongsam
- Winners of 2022 Inaugural WLA Prize announced
- Lantern Festival: A romantic celebration in China
- Two Chinese COVID-19 vaccine firms to supply vaccines to COVAX
- Media center for 20th CPC national congress to open on Oct. 12
- Six suspects arrested in HK for role in SE Asia job scam
Top Reviews
- Young artists recreate beauty of traditional Hanfu costume
- China releases photos of tallest tree
- English version of ‘Understanding Xi Jinping’s Educational Philosophy’ published
- China crowned in men’s team for 10th straight time at table tennis worlds
- China publishes Atlas of Wildlife in SW China
- Guangxi’s 10 Years: A Visit to China’s Qinzhou Port
- Congress delegate helped lift village out of poverty
- Expo highlights joint efforts in NEV development
- Racism stain of shame on ‘world democratic paradise’
- U.S. may face new COVID wave this upcoming winter: report