This Day, That Year

Item from Sept 1, 1996, in China Daily: Haier has evolved into a blockbuster company with 70 branches around the country.

As China’s largest home appliance producer, its products are increasingly popular in consumer markets in North America, Europe, Africa, the Middle East, and Japan.

Since its establishment in 1984, the Haier Group has risen from the ashes of a failing refrigerator factory in Qingdao, Shandong province, to become the world’s leading major home appliance brand.

Last year’s profit rose 12.8 percent from 2015 to 20.3 billion yuan ($3 billion) and revenue increased 6.8 percent to 201.6 billion yuan.

According to marketing consultancy Euromonitor, the company attained 10.3 percent market share of global volume last year.

In 2009, Haier was ranked the world’s No 1 appliance brand for an eighth consecutive year by Euromonitor.

Last year, Haier Group acquired GE Appliances business from General Electric for $5.4 billion, the latest in a series of large overseas acquisitions by Chinese businesses.

In 2012, it acquired Fisher & Paykel, a New Zealand appliance brand.

Now, the company has regional headquarters in both Paris and New York to serve its clients in Europe and the US.

Haier also has 10 research and development centers, 108 factories and 21 industrial parks worldwide.