In frank recent China interviews, Hikvision's President Hu Yangzhong has addressed challenges impacting the video surveillance industry and Hikvision, in particular, saying the world's largest security manufacturer is now focusing on "survival" as opposed to breakneck growth.
In this note, we examine Yangzhong’s remarks:
- downplaying the AI trend Hikvision has so heavily promoted
- addressing Hikvision’s USA challenges, including a pledge to be “more transparent”
- bemoaning industry fragmentation
- criticizing other's big discounts and promotions
Overall, the comments mark a significant change from Hikvision’s often bullish past proclamations, indicating the company is attempting to manage expectations amid crashing stock prices and decelerating growth.
AI Not Such a Big Deal After All