The 2007-2008 top ten brands in the Chinese consumer electronics industry were unveiled in Las Vegas Tuesday at the 41st International Consumer Electronics Show.
Haier, Hisense, Changhong, TCL, Lenovo, GreatWall, Tongfang, BOE, Desai and Asustek are on the list of the award, which has been dubbed "the Oscars of China's consumer electronics industry."
For single-subject prizes, Hisense won the prize for "most innovative brand" in flat-screen TVs, while Shinco won the award for Greatest Potential Brand.
The top 10 brands were chosen for obtaining 3 million votes by Chinese consumers and retailers via the Internet, and selected by 50 experts of an evaluation board, according to a press release issued at Tuesday's award ceremony.
The award's theme is "Brand Originated from Innovation" and takes into account the Research and Development (R&D) strength of enterprises as their major election criteria, demonstrating the strength of the Chinese consumer electronics industry.
Data from the Ministry of Information Industry of China, quoted by the press release, states that expenditure on R&D by leading consumer electronics enterprises has been increasing.
Haier, for example, spent 6.7 billion yuan ($920 million) on R&D in 2006, while Lenovo spent 2.8 billion yuan.
This proves that China's consumer electronics industry is experiencing all-round development, the press release said. The winning manufacturers are likely to establish overseas production bases and sales companies.
"If an enterprise insists on product research and development and equips itself with the leading market awareness and branding, it achieves great success," said Zhu Dongfang, publisher of TWICE CHINA, China's authoritative consumer electronics media company.
He added the awarding activity for leading Chinese consumer electronics brands "has formed a good platform for Chinese enterprises to enter the global consumer electronics market."
The brand-selecting event was hosted by the International Data Group (IDG) and Reed Business Information Group. China's Ministry of Commerce, the Ministry of Information Industry and the Ministry of Science and Technology supported the event.