LAS VEGAS, NEVADA – JANUARY 06: The company name for Hisense appliance and electronics manufacturer is displayed at CES 2023 at the Las Vegas Convention Center on January 6, 2023 in Las Vegas, Nevada. CES, the world’s largest annual consumer technology trade show, runs through January 08 and features about 3,200 exhibitors showing off their latest products and services to more than 100,000 attendees. David Becker/Getty Images/AFP
Updated on July 11, 2024 at 9:05 a.m.
The local unit of the China-based multinational appliance and electronics manufacturer Hisense Group is planning to open around 500 new stores in the Philippines in the long-term as part of the company’s expansion across Asia.
Joseph Cromwell Sanchez, sales director of Hisense Philippines Inc., said in a recent interview with the Inquirer these planned stores are on top of the 90 COVERAGE stores already existing.
“We started operations last January 2024. While Hisense products have been available in the market through a distributor, this expansion will result to greater number of stores with dealers directly partnering with Hisense Philippines,” he said.
Sanchez said that competition in the television market is tight, but expressed confidence that his almost 20 years’ worth of experience in the business will factor into the company’s success.
“The brand itself is targeted towards the mid to high-end market,” he said, referring to the Toshiba brand they own. “That is why we have partners here in Metro Manila and also the provincial channels to cater to both,” he said.
Hisense owns the Toshiba brand, which it acquired in 2017 from Japanese firm Toshiba Visual Solutions Corp.
Several years ago, Sanchez said that the company’s direction was to focus on developing their business in the western and other large markets, citing in particular the United States, Australia, Europe, and the Middle East.
“Now, we are expanding here in the Philippines and the rest of Asia. So, the whole focus now of the company is Asia Pacific,” said Sanchez, mentioning Malaysia, Thailand, Indonesia and Vietnam aside from the Philippines. INQ