What do you mean by "the smart function"? It is a smart tv so yes, you can run your favourite apps. But unlike Samsung or LG, you do not install your apps locally, but run URLs more or less the same way as on the web. I also have noticed Hisense offers a different list of apps for a different region. Change your country settings, save your wanted apps and enjoy. And because Panasonic, Sony, Vision, Vestel and others also use the same VEWD system and they are very easy to build, soon we should see more of them. Yes, there are two excellent IPTV apps: SmartIPTV (in beta and free) and OTTPlayer2.
Declared as less than 50ms, think some of the online calibrators have tested it and it comes out at about 34ms if gaming is your thing. For some reason Hisense quote this figure on all their spec sheets.
Nice one cheers.
Hisense sell themselves short on input lag. They always quote <50ms. It will be less than 50ms, usually they are around 20-30ms. I would guess 28ms input lag