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...
Read More →Smart vacuum market heats up
Fueled by the rising income and rapid development of the service robotics industry, a growing number of Chinese consumers are embracing household robots to improve their daily lives.On Nov 11, the annual Singles Day online shopping spree, Deebot S, the most popular robot vacuum model by Ecovacs,...
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...
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