Chinese Hisense to invest more in South Africa
( 2001-09-18 09:12 ) (8 )

Hisense, a Chinese manufacturer of consumer electronic goods, is planning to increase its investment in South Africa and get a bigger share of the market, a senior member of the company said in Johannesburg on Monday.

Yuan Qinglin, general manager of Hisense South Africa, noted that the Chinese company has invested more than 34 million rand (US$3.95 million) in South Africa over the past year.

"Our current strategy is to grow our business from the 10-percent television market share that we already own," Yuan said.

The company is now gearing up to supply a wider range of products, including children's computers, Internet TVs, 3D TVs, air conditioners and DVD players, he noted.

The new initiative is expected to earn a turnover of 100 million rand (US$11.6 million) this year, rendering a positive effect on the South African economy, Yuan predicted.

The company has created a number of new jobs for local people over the past year at its factory in Midrand, outside Johannesburg, according to the manager.

Hisense has been operating in South Africa since 1993 when it began importing television sets into the country. Following the success of this venture, the company set up its first TV assembly plant in 1996.