Topic
TOPIC
Haier was founded as Qingdao Refrigerator Co in 1984, although the company’s roots date back to the 1920s. It is the dominant whiteware manufacturer in China and has been expanding offshore. In 2005, Haier made a US$1.28 billion, or US$16 per share, bid for Maytag, which was ultimately bought by Whirlpool Corp for US$1.7 billion. In 2009, it bought 20 per cent of New Zealand whiteware firm Fisher & Paykel (F&P) at the height of the global financial crisis, and won control of F&P in October 2012.
- The three largest manufacturers – Midea Group, Gree Electric Appliances and Haier Smart Home – make up 80 per cent of the combined value of the top 10
- Four of the 10 largest are based in southern China’s Greater Bay Area
Mergers and acquisitions have more than doubled so far this quarter from the preceding three months, while concerns surrounding US-China economic decoupling could drive even more deals in the final months of 2020.
Mergers and acquisitions have more than doubled so far this quarter from the preceding three months, while concerns surrounding US-China economic decoupling could drive even more deals in the final months of 2020.
Hisense Group, one of China’s largest appliance manufacturers, is the latest company undergoing job cuts as the economic impact of the coronavirus pandemic continues.
Hisense Group, one of China’s largest appliance manufacturers, is the latest company undergoing job cuts as the economic impact of the coronavirus pandemic continues.
Most smart TVs from leading brands show ads, including those from Samsung, LG, Vizio, Xiaomi, and Sharp
Most smart TVs from leading brands show ads, including those from Samsung, LG, Vizio, Xiaomi, and Sharp
Shares in Haier Electronics rose as much as 15 per cent yesterday after its Goodaymart logistics arm agreed to sell a strategic 10 per cent stake to mainland e-commerce giant Alibaba for HK$1.86 billion, in yet another example of mainland appliance manufacturers and e-commerce operators reshaping the competitive landscape before an expected boom in online shopping.
Shares in Haier Electronics rose as much as 15 per cent yesterday after its Goodaymart logistics arm agreed to sell a strategic 10 per cent stake to mainland e-commerce giant Alibaba for HK$1.86 billion, in yet another example of mainland appliance manufacturers and e-commerce operators reshaping the competitive landscape before an expected boom in online shopping.