Haier

Haier, a well-established Chinese appliance company, was originally founded as Qingdao Refrigerator Co. in 1984 in Qingdao, Shandong province. Over the years, it has grown into a global giant, generating an impressive annual revenue of USD 27.7 billion in 2019. In a significant move, Haier acquired General Electric's (GE) appliance business for USD 5.6 billion in June 2016. Haier's diverse product line includes refrigerators, kitchen appliances, laundry machines, and more.

Recently, Haier Group spun off its subsidiary, Haier Smart Home, which is planning an initial public offering in Hong Kong, as reported by Reuters. Haier's Smart Home business played a crucial role in the 127th Canton Fair, China's largest trade show, which was held online for the first time. The company has actively participated in the Canton Fair since 1988, utilizing livestreaming from its showrooms across the globe to connect with customers effectively.

Haier's success in developing an IoT ecosystem has earned it a place in BrandZ's Top 100 Global Brands in 2019. Notably, Haier Smart Home's revenue from its ecosystem saw a remarkable 68% year-on-year increase in 2019, leading to a growth in net profit.

As part of the company's expansion plans, GE Appliances, now a Haier company, recently disclosed a significant investment of USD 62 million to enhance appliance production at its vast 750-acre manufacturing complex in the United States.

Headquarters: Qingdao, Shandong, China

Founded: 1984

Website: https://www.haier.com

Instagram: https://www.instagram.com/haieramerica/

Youtube: https://www.youtube.com/user/HaierAmerica