Midea and Electrolux to form premium brand joint venture in China
Midea, a leading global player in consumer appliances, Heating, Ventilation and Air-Conditioning (HVAC) systems, Robot, and Industrial automation systems, has signed an agreement with Electrolux to establish a long-term strategic joint venture in China to promote and distribute the premium German...
Chinese Firms Say They’ll Respond Actively to iRobot's Patent Infringement Allegations
Chinese companies being sued by robot producer iRobot Corp. [NASDAQ:IRBT] for alleged patent violations said they will actively respond to the suit. The Bedford-based firm filed lawsuits accusing 11 of its competitors, including China’s ILIFE Technology Co., Suzhou Realpower Electric Appliance Co.,...
Read More →Foxconn planning $27b bid for Toshiba's chip business
Foxconn Technology Group is reportedly planning to bid up to $27 billion to acquire Toshiba's chip business, according to Bloomberg. It's yet another major acquisition swoop on a Japanese high-tech firm by Foxconn which earlier bid for taking over the electronics firm Sharp. Analysts estimate that a...
TV maker profit down in Q1
China's television industry has seen a downturn in the first quarter, with major TV manufacturers witnessing a drop in net profits and sales affected by the rising price of raw materials. Sichuan Changhong Electronic Co Ltd said its revenue was 16.63 billion yuan ($2.41 billion) in the first three...
Read More →69.7% Increase-Haier Financial Reports
Qingdao Haier Co., Limited has released the 2016 annual reports and the 2017 first-quarter results on April 29, 2017, showing increase in both revenue and profit. According to the financial reports, Qingdao Haier Co., Limited has gained 37.7 billion RMB of operating income in the first quarter of 20...
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