January 15,2016 witnessed the MOU signing between Haier Group and General Electric Co. (GE), indicating global collaboration between the two with an aim to increase their both competitiveness in industrial internet, medical treatment and advanced manufacture.
Besides, Qingdao Haier Corporation Ltd.(SH600690, QINGDAO Haier) will collaborate with GE on its home appliance business to further increase Qingdao Haier’s global competitiveness.
Haier is a leading global home appliance provider with an annual sales volume of 32.6 billion dollars and a profit of 2.4 billion dollars in 2014. Haier provides innovative home appliances to cater to fast-changing requirements of users all over the world. Haier has been recognized as the number one brand of Major Appliances in the world for six consecutive years by Euromonitor International, the world’s leading independent provider of business intelligence on industries, countries, companies and consumers. GE boasts over a-century-long’s brand reputation, loyal middle and high-end users, experienced management teams, great corporate culture as well as comprehensive white goods series. It also boasts its own logistics, distribution network in North American market and a mature quality control system.
This collaboration will benefit staff, clients, stakeholders and work partners of both sides. GE’s high quality products will be more conveniently ushered into China’s market, which helps to gain a more competitive position in its global business growth.
