The largest home-appliance makers in China and Taiwan have forged a partnership to expand their cross-strait presence.
In Hong Kong yesterday, Haier Group signed a non-exclusive agreement with Taipei-based Sampo Group to sell each other's home appliances, information-technology and telecommunications products, through the partner's sales networks.
Even though the Qingdao-based firm carries out contract manufacturing for Taiwan companies such as Taiwan Semiconductor Manufacturing and Compal Computer, only a few of its branded products have reached store shelves in Taiwan via indirect channels.
Under the agreement, Haier products will be sold in Taiwan through Sampo's sales networks and vice versa.
The agreement also paves the way for further co-operation between the two companies either through supplementing each other's original equipment manufacturing products, buying components from each other or in a possible joint venture.
Haier president Yang Mianmian said: 'Once things are up and running, there might be a joint-venture sales company. It might be set up because once you're operating, you might need an entity to run things.'
While both companies claimed the partnership was a win-win deal, Sampo has more to gain from the agreement.
