MGene Solution announced on the 9th that representatives from Hisense, a leading Chinese TV and home appliance company, visited its Vietnamese subsidiary for an on-site inspection.
According to the company, Hisense plans to complete the factory registration process through this inspection and begin exporting outside of China via manufacturing in Vietnam. Accordingly, MGene Solution will be responsible for Hisense's export volume outside of China.
As of January, Hisense ranked as the world's second-largest TV manufacturer by shipment volume and held the number one market share in the Chinese TV market. Additionally, last year, Hisense's mini LED TV shipments increased 18-fold compared to the same period the previous year, rapidly expanding its market share.
Previously, MGene Solution completed the establishment of a production corporation in Vietnam for mass production of coil magnetic components, which are key parts used in TVs and home appliances. Subsequently, its technology partner, Musem Co., Ltd., established a mass production system for molded products with special resin applied to coil magnetic components such as next-generation transformers developed in-house.
A company representative stated, “This technology is recognized as the only one of its kind in the global home appliance market,” adding, “We recently started mass production for Samsung Electronics products and are currently in preliminary procedures to supply LG Electronics, receiving strong interest.”
They also added, “With Hisense's inspection, our global market share is expected to expand rapidly,” and “We anticipate revenue growth following the expansion of mass production scale.”
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