Haier

Haier Group Corporation (/ˈhaɪ.ər/)[2] is a Chinese multinational home appliances and consumer electronics company headquartered in Qingdao, Shandong.

Its Haier Smart Home Company affiliate, of which it owns 35%, designs, develops, manufactures and sells home appliances including refrigerators, air conditioners, washing machines, dryers, and microwave ovens under the brand names Haier, Casarte, Leader, GE Appliances, Fisher & Paykel, Aqua and Candy.

[8] By the 1980s, the factory had a debt of over CN¥1.4 million and suffered from dilapidated infrastructure, poor management, and lack of quality controls, resulting from the planned economic system and relevant policies.

The Qingdao government hired a young assistant city-manager, Zhang Ruimin, responsible for a number of city-owned appliance companies.

[13] In Southeast Asia, Haier opened production facilities in Indonesia in 1996 and the Philippines in 1997[8] and failed in an attempt to enter the Thai market due to the presence of local competitors.

As part of its strategy, Haier built a production facility in the United States at Camden, South Carolina, opened in 2000.

[14] The company also purchased a Meneghetti's factory in Italy and began placing its products in European retail chains, either under its own brand or under OEM agreements with foreign partners.

In June 2005, Haier bid to acquire Maytag Corporation, backed by private equity funds Blackstone Group and Bain Capital.

[15] However, Maytag was bought by Michigan-based Whirlpool Corporation which offered $1.7 billion in cash and stock, or $21 per share, plus assumed debt.

[17] In 2009, Haier surpassed Whirlpool to become the fourth largest refrigerator producer in terms of sales with a global market share of 6.3%.

[20] In June 2016, Haier Group acquired GE Appliances, headquartered in Louisville, Kentucky, from General Electric for $5.6 billion.

[29] By utilising Cogobuy's ecosystem and supply chain, Haier was able to integrate IngDan's portfolio of components, modules, and edge voice analysis into smart appliance products.

Zhang Ruimin, soon after becoming managing director in 1985, ordered his employees to destroy 76 refrigerators with sledgehammers following a customer complaint in an effort to radically change the company's culture to one that embodies quality control practices.

[38][39] Following Russia’s invasion of Ukraine in 2022 and subsequent international sanctions, Haier faced criticism for its continued expansion in the Russian market.

Despite global calls for corporate responsibility, Haier has significantly increased its revenue in Russia, reportedly more than 1.5 times in 2023 compared to 2022.

Haier store in Nanchang
A Haier smartphone at the Mobile World Congress 2015