Mar 30, 2020 |
Haier was founded in 1984 in the People’s Republic of China. In the last 30 years, through its entrepreneurial and innovative spirit, Haier has transformed itself from an insolvent collectively-owned factory on the brink of bankruptcy into the number one global home appliances brand. It features a complete range of home solutions including laundry, cooking, refrigeration, and audio video solutions.
In 2013, Haier’s global revenue and profit reached USD 29.5 billion and USD 1.76 billion, respectively. Profit growth was two times revenue growth. Based on the statistics of Euromonitor International, a world leader in strategy research for consumer markets, Haier has been the number one global home appliance brand for five years in a row. On the 2012 World’s 50 Most Innovative Companies list published by the Boston Consulting Group, Haier was the only Chinese company in the top 10, as well as the top-ranked consumer products retailer.
Reliance Group took over operation of Haier in the country in 2012. Haier currently competes in the value for money segment of the market where it has seen tremendous acceptance.