JD.com to Expand Offline Presence in Rural Appliance Market
(Beijing) – JD.com, which accounts for 62% of China’s online home appliance sales, plans to expand its offline presence by opening 10,000 brick-and-mortar stores this year, according to Vice President Yan Xiaobing. JD.com, China's second-largest e-commerce platform after Alibaba Group, is counting...
Read More →Alibaba buys 25 percent stake in Haier multimedia company
Qingdao Haier Co Ltd - the listed arm of Haier Group, China's biggest home appliance supplier - said it will join hands with e-commerce giant Alibaba Group Holdings Ltd to own stakes in Haier's multimedia company. Haier said its multimedia company, which is positioned as an operating platform of...
Read More →Hisense phone targets e-book lovers
Chinese home appliance manufacturer Hisense Group launched its first dual-screen smartphone A2, aimed at young consumers and e-book enthusiasts. The smartphone has a 5.5-inch AMOLED display on the front and a 5.2-inch Kindle-like electronic paper display on the back, on which users can read and...
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...
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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