Home appliance makers' profits up 20.4% last year

Domestic home appliance manufacturers reported a 20.4 percent increase in 2016 profits, Beijing Business Today reported citing data from the National Bureau of Statistics. Last year, China's home appliance makers' core business revenue totaled 1.46 trillion yuan ($212.37 billion), up 3.8 percent...

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LG Electronics posts double-digit growth in 2016 profit despite smartphone loss

LG Electronics, South Korean tech behemoth, posted a double-digit growth in its 2016 profit despite a massive loss in smartphone business that was offset by strong revenue in consumer electronics and TVs. Operating profit was 1.34 trillion won (1.15 billion U.S. dollars) in 2016, up 12.2 percent...

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Strategic alliance between Midea and Servotronix

February, 9th 2017 - Midea Group Co., Ltd. (SZ:000333, “Midea”), a leading global supplier of consumer appliances, Heating, Ventilation, and Air-Conditioning (HVAC) systems, robotics and industrial automation systems announced today the establishment of a strategic partnership with Servotronix...

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JD and Midea deepen cooperation

JD.com Inc, China's second-largest e-commerce player, signed a 20-billion-yuan ($2.9 billion) strategic cooperation agreement with Chinese home appliance maker Midea Group, a move aiming to promote the upgrading and transformation of the appliance industry. The two sides will deepen cooperation in...

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China's Haier profit rises 12.8% in 2016

China's leading home appliance maker Haier announced Saturday that its profits in 2016 jumped 12.8 percent year-on-year to 20.3 billion yuan ($2.94 billion). Haier rang up global sales worth 201.6 billion yuan (about $29.2 billion) last year, with a year-on-year growth of 6.8 percent, said Zhou...

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