PHOTO
- Hisense estimates a growth of 50% by 2022 in UAE market
- UAE consumer electronics market is set to grow by about 12% in 2021
Dubai: Hisense, a leading manufacturer of consumer electronics and white goods, has formed a strategic partnership with UAE-headquartered, FGT FZE, a prominent sales and distribution company dealing in a variety of product categories including consumer electronics, medical equipment’s and other related products. Through this partnership, Hisense aims to strengthen its organised retail (OR) business across the UAE by improving and optimising its product availability, market penetration as well as accessibility in the seven Emirates.
This partnership will facilitate Hisense to grow the business by an estimated 50% by 2022 in UAE market. FGT FZE’s impressive distribution network in all major electronic organised retail (OR) channels, logistic facilities and expertise will be leveraged to enhance the business fundamentals to drive additional growth as well as better and efficient service to our channel partners and end consumers.
The partnership was announced at a signing ceremony held between Hisense and FGT FZE on Tuesday, 21st September at a hotel in Dubai.
The event was attended by several representatives from both corporate organisations, including Jason Ou, Managing Director of Hisense Middle East and North Africa, Ismail Al Hurani, COO of Hisense Middle East, Tavassoli, Chairman of FGT FZE and Abdullah Shaghnobi, GM of FGT FZE, and other top management members from both the organizations.
During the ceremony, Jason Ou, Managing Director of Hisense Middle East and North Africa said, “Apart from being one of the top markets of consumer electronics and appliances in the MENA region, UAE is also a regional hub and strategic market to drive the regional electronic business.”
“With an upsurge in purchasing power, the UAE’s fast-growing population is looking for innovative, technologically advanced and affordable televisions to improve their lifestyle through fully smart and connected products. This is evident considering the estimated market growth of about 12% in 2021 despite of the effects of pandemic. Also, the most awaited event of 2021 which is Dubai Expo will prove to be a driving force to create much bigger demand and put the market on further growth trajectory.”
“We believe it’s important for Hisense to cater to the masses and their demand for innovative and technologically advanced televisions. Our partnership with FGT FZE will ensure that Hisense TVs are available to the consumers, at all major retail outlets, through efficient operations and optimised delivery and installation.”
Hisense sales have been growing recently in the Middle East with a 116% growth rate in the first half of 2021; compared to 2020. Sales growth in TV sets specifically has increased by 94%, while air conditioners sales grew by 120%, and the overall Hisense home appliances sales by 134%.
He also noted that Hisense has always been a major player in global sports sponsorships and has successfully used sponsorship to build global brand awareness through leading platforms such as the UEFA Euro 2016 & 2020, the Australian Open, NASCAR Xfinity Series, Red Bull Racing, Joe Gibbs Racing, Germany’s FC Schalke 04, FIFA World Cup 2018TM, and Paris Saint-Germain. Continuing its sports marketing momentum, Hisense will also be the official sponsor of the FIFA World Cup 2022TM.
Talking about the partnership, Abdullah Shaghnobi, GM of FGT FZE said, “We are pleased to sign the agreement here today with a market-leading TV brand like Hisense as we work collaboratively with a common vision to expand the distribution network and improve the market penetration to achieve the business growth. FGT being a major player in Consumer Electronics distribution segment, I am confident that our resources, experience and access to market will open doors to more opportunities and mutual growth.”
Ismail Al Hurani, COO Hisense Middle East concluded, “this partnership will be a milestone for both the companies to leverage each other’s strengths and expand their business footprints whilst solidifying their market position in the county.”
He further added, “Hisense TV category is fast expanding through an innovative line-up of extra-large televisions like Hisense 4K Laser TV, available in various screen sizes from 88 inch to 150 inch; such products need more customised distributions as well as service & installation. And this partnership will play an important role in the laser TV business development as the demand for Laser TV is increasing exponentially.”
About Hisense:
Founded in 1969, Hisense is a multinational company headquartered in Qingdao, China covering business areas like multimedia, home appliances, IT intelligent information and modern service industries. The company owns three listed companies - Hisense Visual Technology, Hisense Home Appliances and SANDEN listed in Shanghai, Shenzhen, Hong Kong and Tokyo and has acquired many known brands including Toshiba, Gorenje, Kelon, Ronshen and ASKO.
With the core values of ‘integrity, innovation, customer focus and sustainability’ and the development strategy of ‘Sound Technological Foundation and Robust Operation’, the brand has delivered supreme quality products, excellent after-sales and customer services as well as reassurance of its comprehensive warranties, for over 50 years.
Hisense is also the global leading brand in B2B industries including Intelligent Transportation, Intelligent Medical and Optical Modules. The company owns the world's leading ULED Local Dimming backlight control technology and laser display technology while developing the chip technology and continues in developing 8K ultra-high-definition display image quality processing chips, TV SoC chips, and AI chips.
With products exported to over 160 countries and regions, Hisense has sponsored the world’s top sporting events such as UEFA EURO 2016, 2018 FIFA World Cup, UEFA EURO 2020 and 2022 FIFA World Cup, and becomes the global sponsor of Paris Saint-Germain football club.
Hisense has 16 industrial parks located in Qingdao, Shunde, Huzhou, Czech Republic, South Africa, Mexico, etc. as well as 16 R&D centers located in Qingdao, Shenzhen, the USA, Germany, etc. working towards a wide range of highly competitive products.
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
