South Korean media: Chinese TVs sweep Japanese market! On May 21, the South Korean newspaper "The Korea Economic Daily" published an article stating that in Japan, known as the "graveyard of foreign home appliances," the number one brand in the television sector is Regza. Japanese consumers mistakenly believe it to be a Toshiba brand, but the actual owner of Regza is the Chinese home appliance company Hisense. The American home appliance "proud" General Electric's home appliance department, with a history of 133 years, was also acquired by the Chinese Haier in 2016. Chinese enterprises expand their global footprint by acquiring well-known overseas home appliance brands and implementing the "Chinese-style globalization" strategy. According to statistics from market research company BCN, last year, the market share of Chinese brands in Japan's television market exceeded 50% for the first time. Following Regza's lead with a market share of 25.4%, Hisense (15.7%) and TCL (9.7%) ranked third and fourth respectively. Japanese Sharp maintained its face with only a 20.6% market share (second place), while Sony (9.6%) and Panasonic (8.8%) fell to fifth and sixth place respectively. Behind the breakthrough of Chinese home appliances into the Japanese market lies mergers and acquisitions. In 2017, Hisense acquired Toshiba's television business (Regza), and Midea acquired Toshiba's white goods business. In 2012, Haier acquired Sanyo's home appliance division. Chinese companies aim at the Japanese market by launching "half-price products" under the original brand names. In fact, Hisense's 55-inch smart TV, priced at 100,000 yen (approximately RMB 5,016), is half the price of Panasonic's similar product. BCN explained: "As demand for high-value-for-money products increases in Japan, the market share of Chinese products is rising." Chinese enterprises have expanded globally through mergers and acquisitions. In 2016, Haier acquired General Electric's home appliance division in the United States for $5.4 billion, increasing its market share in the U.S. from 1% to 17% last year. Haier also acquired the Italian home appliance company Candy in 2019. Hisense acquired Gorenje, the largest home appliance company in Eastern Europe, in 2018 and is accelerating local expansion. According to market research company Omdia, the global market share of televisions from Chinese companies TCL, Hisense, and Xiaomi (calculated by shipment volume) reached 31.3% last year, surpassing South Korea (28.4%) for the first time. Particularly in the ultra-large size television segment (75 inches and above), the market shares of TCL and Hisense more than doubled compared to 2020, reaching 15% and 14.6% respectively. Original article: https://www.toutiao.com/article/1832718745293833/ Disclaimer: This article represents the views of the author alone.