Industry News

TCL expands content by working with online giants

Chinese electronics giant TCL Corp launched its first internet TV brand by working with online giants Alibaba Group Holding and Tencent Holdings to strengthen its content offerings. The brand FFALCON, which targets young viewers, will integrate TCL's capital, research and development and supply...

Home Appliance Manufacturer Meiling to Form Joint Venture with Italian White Goods Giant Candy

Hefei Meiling Co. is planning to set up a joint venture through a strategic partnership with Italy’s leading electrical appliance manufacturer Candy Hoover Group S.R. and Candy S.p.A. The Chinese company will hold a controlling interest in the venture. The joint venture will specialize in washing ...

Midea to Maintain Focus on Overseas M&As After USD2.3 Billion Profit Last Year

Chinese home appliance maker Midea brought in almost CNY160 billion (USD23.2 billion) in revenue last year, up 14.7 percent on the year, according to its latest report. The firm netted nearly CNY16 billion in profits, up 16.4 percent on the year, while it acquired Japanese Toshiba Home Appliances...

Intelligent Manufacturing Replaces Humans at Home Appliance Makers' Factories

Rising employment costs have driven many labor-intensive Chinese household electric appliance factories to replace manual workers with machines. ‘Networked’ plants capable of expediting stock turnover and improving operating efficiency by integrating, user, research and development, supply chain...

China's home appliance giant Midea eyeing 'smart factory' market

Already a leader in air conditioners and washing machines, Chinese home appliance giant Midea has set its sights on a new industry: robots. Midea made the announcement at a strategy conference Wednesday held in the southern Chinese city of Guangzhou, days after its acquisition of German robotics...