Hisense banks on innovation in battle against global competitors

Hisense Electronics Co Ltd, China's largest TV maker by market share, is banking on more investments in innovation and smart factories to gain an advantage over global rivals like Sony Corp and LG Corp.

To achieve its goal, Hisense has formed an expert team comprising researchers from Japan and South Korea to update its TV technologies and also outlined huge investments for its smart factory to increase productivity.

"Advanced technology is the key to business success no matter how the market is changing," said Zhou Houjian, the company's chairman.