chinese white goods makers eye global brands for market share and premium cache - chinese appliance manufacturers

by:Yovog     2019-07-11
chinese white goods makers eye global brands for market share and premium cache  -  chinese appliance manufacturers
HONG KONG (Reuters)-
In 2009, when the Chinese white appliance giant Haier Group acquired a 20% stake in Fisher Pike Electric,
Debt-laden New Zealand companies are at the mercy of their banks, hit by the housing market downturn and bad loans
Regular relocation of overseas factories
Three years later, its full acquisition not only helped Fisher and Pike stay in operation, but also made private
Have Haier 1-
Refrigerators, washing machines and dishwashers are the fifth largest market in Australia, compared with less than 5% in 2010.
Competitors such as Electrolux AB (ELUXb. ST)
LG Electronics (066570. KS)
According to Euromonitor, the market share of various products was lost during this period.
Haier's development in Australia is largely driven by its own strong financial resources, which may indicate how it can cause a stir in the United States. S.
After the acquisition of GE, the marketGE. N)
$5 home appliance business.
January 4 0 billion.
In a recent report, Carnegie Investment Bank said that under Haier's control, Fisher & Paykel was able to carry out large-scale product launches, and its R & D budget has also increased.
Carnegie said Haier is expected to use the same strategy in the United States. S. market.
The group's global R & D spending jumped to 3.
5 billion yuan (467 million)
In 2015, it increased by 53% per cent since 2012.
Qingdao Haier Co. , Ltd (600690. SS)
The Chinese group's listed core subsidiary has already spent £ 9.
According to its annual report, 7 billion yuan has acquired home appliance assets since 2011.
Haier is not alone.
Hisense Electric Appliance Co. , Ltd. and other major white home appliance manufacturers in China (600060. SS)
Midea Group Co. , Ltd (000333. SZ)
This year, as they try to snap up foreign brands to dig faster --
The market is growing as domestic economic growth slows.
"As the domestic market slows down, entering other markets helps them find new sources of growth," Shanghai-
Headquartered in China Market Research Group.
"This is also an opportunity to gain more knowledge --
How to achieve success in China with increasingly fierce competition?
Competitors such as Whirlpool (WHR. N)
, Electrolux, LG and Samsung Electronics (005930. KS)-
Some of the biggest names it will encounter in the United States --
Haier will give some comfort in one aspect of Australia's rise.
Although their sales, logistics and customer service businesses are integrated, the deal has not yet brought greater market share gains to Haier's own brands, highlight the challenges faced by the group in seeking to establish market share in the medium term
Market segments. “The high-
The end market is a weakness for Chinese home appliance manufacturers, "said Juliette Liu, an analyst at Taipei Yuanda research.
Search results for Australian home appliance retailers show that good people have Fisher & Paykel among the top brands of their listed brands, while Haier's own brand has no interest.
Haier did not respond to a request to comment on its strategy in Australia.
"There is no problem with this brand," said Mitch Kono, assistant store manager at a private store in Sydney.
Bing Lee, its white appliance chain, sells Fisher & Paykel products instead of Haier.
"Fisher & Paykel is a better known brand and I don't think consumers know they are the same company," added Konno . ".
On a recent visit by a Reuters reporter, a nice man shop in Sydney showed only one Haier washing machine among the 50 different machines trying to sell.
The company's floor staff said they were not allowed to comment.
China's top domestic enterprises, including Haier, Hisense, Midea and Gree Electric, have a boom in mergers and acquisitions (000651. SZ)
And Joyoung limited 002242.
SZ opened its wallet to fund this overseas operation.
Since the beginning of 2014, they have spent more than $31 billion on transactions, nearly 6-
Doubled from $5.
According to Thomson Reuters, there were 4 billion records between 2010 and 2013.
The latest deals include the acquisition of Toshiba by Midea for $0. 473 billion (6502. T)
White home appliance business, Hisense acquired Sharp (6753. T)
Television factory in Mexico
Midea said on Wednesday it had offered to buy Kuka AG, a German manufacturer of industrial robots ). KU2G. DE)
The valuation of the card is around 4. 5 billion euros.
As some global players withdraw from the market, competition from the lower end of the market is increasingly fierce, and more transactions may follow.
Chinese manufacturers are also under pressure from the Beijing government to improve product quality and standards.
"We will actively look for and capture possible global M & A opportunities to further enhance our global competitive edge," said Jiang Peng, spokesman for the United States . ".
The firm profitability of Chinese companies will help them integrate further.
The operating profit margin of the United States is 13.
8% on 2015, Haier posted the moon.
2%, higher than 2 of Electrolux.
2% and Whirlpool 6.
According to the report of CLSA and the company, 2%. ($1 = 6.
RMB 5346)
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