China’s Hisense talks up US growth as Trump tariffs loom
China’s Hisense will continue to operate business as usual in the US market as foreign brands work out ways to deal with the incoming US president’s tariff threat.
China’s Hisense has delivered a show of strength at CES – the world’s biggest consumer electronics show in Las Vegas – increasing the size of its booth to fit its new range of massive TVs as US President-elect Donald Trump threatens to impose tariffs on foreign companies.
A billboard on the Las Vegas Convention Centre, where an estimated 130,000 people from 150 countries attended the event, said Hisense was the No. 1 brand globally for 100-inch screen TVs.
Inside it showcased two new models, including a 116-inch screen that will become Australia’s biggest TV when it becomes available in the country later this year.
A spokesman said Hisense – which began as a “small radio manufacturer” in China 55 years ago to become a “global powerhouse” – would “continue to operate business as usual in the US market”.
“We will however continue to monitor the situation and take action as appropriate to work with new policies if put in place, but for the moment, we will continue to prioritise meeting the needs of our customers across the US and beyond,” he said.
Tariff threat
A defining feature of President Trump’s first term in office is likely to be his sparking of a trade war with China, slapping tariffs on its products – duties that Joe Biden largely maintained. The average effective tariff on Chinese imports has surged from about 3 per cent to 11 per cent since 2018.
And as Trump readies to return to the Oval Office, he is ratcheting up the pressure on Beijing – as well as other trading partners – proposing an additional 10 per cent tariff on all products from China, where Hisense is headquartered.
He argues the promised tariffs are to protect American manufacturers and families from “unfair practices in foreign markets”.
And behind the scenes at CES, vendors were working out ways to deal with the additional taxes.
If Trump adheres to his vow, it will mean a spike in prices, techanalyst Rob Enderle told AFP, saying there were “a lot of concerned vendors at CES”.
At CES, Hisense’s Chinese rival TCL – which sponsors America’s National Football League – also had a sizeable presence at the event.
Support for DOGE
Meanwhile Elon Musk’s social media platform X’s chief executive Linda Yaccarino told attendees all Americans should be “rooting for” the success of the incoming Trump Administration’s Department of Government Efficiency (DOGE).
Mr Musk will helm DOGE with former Presidential candidate and biotech investor Vivek Ramaswamy, and has promised to cut at least $US2 trillion from the US federal budget.
“Elon is a visionary, and there is no better person that can set a vision and a course for others to be inspired and follow,” Ms Yaccarino said, while also cheering Facebook owner Meta’s decision to end its fact-checking.
“As far as DOGE is concerned, I would imagine that surfacing identifying government waste and inefficiency is beneficial to all of us, and I don’t think there’s two better people than Elon and Vivek to do that. As Americans, we should all be rooting for the overwhelming success of DOGE.
“The inauguration is about two weeks away, but I would imagine that DOGE and the success of DOGE will be talked about as probably one of the single biggest unifiers that will bring this country together.”
Bigger is better
David Gold, vice president of Hisense international and president of Hisense Americas, did not mention tariffs or politics during his presentation at CES, but was quick to highlight how much traction the company had gained in the world’s biggest economy.
He said it had become the fastest growing brand for TVs 87 inches and above in the US and was the top seller in that category last year – both in units and dollars – according to Circana.
“Hisense has firmly established itself as the leader in the 100 inch and above TV segment, capturing more than 63 per cent of shipments volume in the third quarter of 2024 this marks the fourth consecutive quarter that we are at the forefront of this category,” Mr Gold said.
“Consumers around the world are also recognising the exceptional value that Hisense brings, especially in the premium home entertainment segment, driving us to rank second globally with a 24 per cent share in the high end TV market. This growth is part of a much broader trend.
“Consumers worldwide increasingly recognise Hisense as a trusted name that delivers exceptional value through high performing best in class products year after year, after year. Consumer demand for big screen TVs has surged, and Hisense is leading this category growth in the United States.”
Hisense unveiled its 136-inch Micro-LED TV, and a 116-inch TriChroma LED TV in its premium ULED X line-up at CES.
“A little over 55 years ago, Hisense was founded as a small local radio factory. Today, we are a global leader in technology. Hisense has become a global powerhouse through the acquisitions of renowned consumer electronics and home appliance brands such as Toshiba, Asko, Gorenje,” Mr Gold said.
“Building a globally recognised and trusted brand has been central to our journey, and partnerships have played a pivotal role in amplifying this vision.”
According to tech analyst Avi Greengart, discreet talk at CES included how to navigate supply chain constraints that could be caused by tariffs
“They are going to be back, probably bigger and brighter than ever,” Greengart said of the TV makers, AFP reported.
“But there is also a growing bifurcation of market between China and the rest of the world that is most acute in the mobile market and the auto market with electric vehicles.”
Additional reporting: AFP.
The author travelled to CES with assistance from Samsung, LG and Hisense.
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