Haier, Hisense build U.S.-based facilities to stay close to market
By building facilities in the U.S. or Europe, some Chinese enterprises put markets and consumers as their priority, with cost coming second.” Song Zhanyou, secretary of president of Shandong Weida machinery, told the reporter of Securities Times. Shandong Weida has long been planning to build a U.S...
Read More →China's Midea completes takeover bid for German robot maker
Chinese home appliance maker Midea Group announced Friday (Dec 30) it has secured approval for its bid to take over German robotics firm Kuka and will complete the deal in early January.A statement from Midea, best known for washing machines and air conditioners, said the bid will promote the robot ...
Read More →TCL Corp took global strategy to heart early
Business model was 'just a concept' in the beginning, but financial crisis showed necessity of taking operations overseas. While many companies think about going global only when they are strong domestically, Chinese electronics giant TCL Corp has cultivated its international DNA since it was very...
Read More →Fotile Kitchenware cooks North America expansion plan
Ningbo Fotile Kitchenware Co Ltd, which makes high-end appliances and integrated kitchens, will accelerate its expansion into North America next year, having tasted success in Asia. "We are going to target the Chinese-American families as our initial forays have yielded success," said Mao Zhongqun, ...
Suning and Gome both saw a surge of more than 200% in online sales on Double 11 shopping day
Chinese leading appliance retailers Suning and Gome saw a surge of more than 210% year-on-year in online orders and more than 268% year-on-year in online gross merchandise volume (GMV) respectively, for the day Nov 11 2016 alone. Nov 11, also known as Double 11, has become one of China's biggest...
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