In the News from Panama

Another Major Company Expanding in Panama

One of China’s largest consumer electronics manufacturers staged a major event in Panama City recently to announce its expansion in the region, with Panama serving as a major distribution hub.

Executives of Hisense, which is best known for its consumer appliances, say Panama will play a major role as the company extends its sales in the Caribbean and Latin America. The company hosted more than 100 journalists and clients to tout its plans for the region. 

“Panama plays a fundamental role just as a hub for Central America, it is even the point of contact for more than thirty different markets and, indeed, it plays a fundamental role for Hisense in this purpose of bringing accessible technology to people, as well as unite countries at a single point of connection,” David VanderWaal, Hisense’s Vice President of Marketing for the Americas, told El Capital Financiero

Hisense is no small player. The company ranks among the top 10 in various categories globally, thanks to its investment in Research and Development (R&D), ranking among the top 10 international Chinese brands. most influential in the world,

Meanwhile, global consumer electronics sales hit a record high in 2021, and Hisense has seen sales skyrocket. The company said it would soon be expanding its lineup of products in Panama.

“In the course of the next year… we will see various products for the home,” VanderWaal told the publication. “But what is difficult about this segment of technology are the various uses that consumers have of technology. For example, the use of a large washing machine in the United States (USA) is not the same with respect to Mexico or Panama have a dryer and washer upstairs, that is, the washing tower.”