Hisense: From local radio shop to global household name

Now, 55 years on, it’s a multibillion-dollar global electronics and appliances giant – selling everything from TVs to fridges to smartphones - with instantly recognisable household names including the flagship Hisense brand, as well as Toshiba and Sharp, among others.

We’ve worked with Hisense for 20 years, helping the company grow into one of the biggest names in its industry globally - now with a presence in over 100 countries worldwide and a global workforce of more than 90,000.

Hisense are a really important customer for us and one of our top corporate clients in the Asia-Pacific region.

“We’ve been there throughout their growth journey and supported them as they’ve established themselves as a household name for household goods - and among the leading providers of electronics and appliances in multiple markets across multiple regions. 40% of their sales now come from overseas.

“It’s also a great source of pride for our team to partner with them and help with their continued and ever-impressive international expansion.”

Our relationship with Hisense currently spans across the Americas, Europe, Asia and the Middle East, covering 20 countries in all – roughly a fifth of their global footprint. We provide liquidity, cash management, payments and trade facilities for the group, among other day-to-day support.

Dedicated support

One of our latest collaborations has involved helping Hisense to expand in the growing China-Middle East corridor.

Trade between the GCC - which includes Qatar, the UAE, and Saudi Arabia - and Mainland China doubled between 2010 and 2021 – and is continuing to increase. Over the next four years, there is untapped trade potential of $178 billion between China and the Middle East, according to the International Trade Centre.

“They bring their fantastic products and brands to the market here, while we leverage our international network and regional expertise in a way no other bank can.”

The top performing sector in the China-Middle East corridor is consumer goods, which accounts for almost half of all goods moving between the two – and includes Hisense.

The Chinese manufacturer also sees a number of similarities between its multinational approach and HSBC’s global outlook.

“Producing high quality products is at the very foundation of an international company like ours,” said Alex Zhu, CEO at Hisense International.

“Innovation is also at the heart of our mission – and HSBC matches that innovative culture that we constantly strive to achieve and deliver for our customers.

“The level of dedication and support we get from HSBC really stands out and helps us to move into and expand in these geographies in a seamless manner.”