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Haier

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For the psychologist, seeRichard J. Haier.

Haier Group Corporation
Native name
Hải ngươi tập đoàn công ty
Company typeCity Owned Enterprise
Industry
FoundedApril 28, 1984;40 years ago(1984-04-28)
FounderZhang Ruimin
Headquarters
Qingdao,Shandong
,
China
Area served
Worldwide
Key people
Products
RevenueIncreaseCN¥227.5 billion (2021)[1]
IncreaseCN¥15.91 billion (2021)[1]
IncreaseCN¥13.21 billion (2021)[1]
Total assetsIncreaseCN¥217.5 billion (2021)[1]
Total equityIncreaseCN¥81.0 billion (2021)[1]
Number of employees
109,586 (2021)[1]
Subsidiaries
Websitehaier
Haier
Simplified ChineseHải ngươi
Traditional ChineseHải ngươi
Transcriptions
Standard Mandarin
Hanyu PinyinHǎi'ěr

Haier Group Corporation(/ˈhaɪ.ər/)[2]is a Chinesemultinationalhome appliancesandconsumer electronicscompany headquartered inQingdao,Shandong.It designs, develops, manufactures and sells products includingrefrigerators,air conditioners,washing machines,dryers,microwave ovens,mobile phones,computers,andtelevisions.The home appliances business, namely Haier Smart Home, has seven global brands – Haier, Casarte, Leader,GE Appliances,Fisher & Paykel,Aqua andCandy.

According to data released by Euromonitor,[3]Haier was the number one brand globally in major appliances for 10 consecutive years from 2009 to 2018. The Haier brand was also recognized by BrandZ in 2019[4]as the most valuable IoT ecosystem brand in the world with a brand value of $16.3 billion. In 2019, Haier Smart Home ranked 448 on Fortune's Global 500 list with a revenue of $27.7 billion.

Haier Group also consisted of two listed subsidiaries in three exchanges:Haier Smart Home( hải ngươi trí gia ) (SSE:600690;ex-Qingdao Haier Co., Ltd.),Haier Electronics Group Co., Ltd.(SEHK:1169), and "D-share" listing of Haier Smart Home in China Europe International Exchange of Frankfurt.[5]

History

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The origins of Haier date back long before the actual founding of the company. In the 1920s, a refrigerator factory was built inQingdaoto supply the Chinese market. After the1949 establishmentof the People's Republic of China, the factory was then taken over and turned into astate-owned enterprise.[6]

By the 1980s, the factory had a debt of overCN¥1.4 million and suffered from dilapidated infrastructure, poor management, and lack ofquality controls,resulting from theplanned economic systemand relevant policies.[7]Production had slowed, rarely surpassing 80refrigeratorsa month, and the factory was close to bankruptcy. The Qingdao government hired a young assistant city-manager,Zhang Ruimin,responsible for a number of city-owned appliance companies. Zhang was appointed the managing director of the factory in 1984.[6]

Haier store inNanchang

Founding

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Haier had been founded asQingdao Refrigerator Co.in 1984. With China opening up to world markets, foreign corporations began searching for partnerships in China. One of these, Germany's refrigerator companyLiebherr,entered into ajoint-venturecontract with Qingdao Refrigerator Co., offering technology and equipment to its Chinese counterpart. Refrigerators were to be manufactured under the name ofQindao-Liebherr(simplified Chinese:Cầm đảo — lợi bột hải ngươi;traditional Chinese:Cầm đảo - lợi bột hải ngươi;pinyin:Qíndǎo—lìbó hǎi'ěr). The current brand "Haier"came from the last two syllables of theChinesetransliterationof Liebherr (pinyin:lìbó hǎi'ěr).[8][9]

The installation of Liebherr's equipment and technology was accompanied by new quality control and management processes. By 1986, Qingdao Refrigerator had returned to profitability and grew in sales at an average of 83 percent annually. Between 1984 and 2000, sales grew fromCNY¥3.5 million to ¥40.5 billion.[6]

In 1988, the municipal government asked Haier to take over some of the city's other ailing appliance manufacturers. The company assumed control of Qingdao Electroplating Company (manufacturingmicrowaveovens).[6]In 1991, the company changed its name to "Qingdao Haier Group"and acquired Qingdao Air Conditioner Plant and Qingdao Freezer.[6]The company's name was simplified to its current name "Haier" in 1992.[6]In 1995, the company took over Qingdao Red Star Electronics Co., awashing machinemanufacturer, along with five of its subsidiaries.[10]Haier acquired seven companies between 1995 and 1997, and began exporting to foreign markets.[11]

International expansion

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In Southeast Asia, Haier opened production facilities inIndonesiain 1996 and thePhilippinesin 1997[6]and failed in an attempt to enter theThaimarket due to the presence of local competitors.[6]

Haier entered the US market in 1999.[10]In the US it focused upon twoniche marketsin compact refrigerators and electricwine cellars.Haier began to manufacture full-sized refrigerators for North American market. This would bring it into direct competition with established American companiesGE,Whirlpool,Frigidaire,andMaytag.As part of its strategy, Haier built a production facility in the United States atCamden,South Carolina, opened in 2000. By 2002, US revenues reachedUSD$200 million, still small compared to its overall revenue of $7 billion.[6]Also in 2002, Haier moved into theGreenwich Savings Bank Buildinginmidtown Manhattan.Formerly the headquarters for theGreenwich Savings Bank,the 52,000-square-foot (4,800 m2) building was built in 1924 in theneo-classical style.

Production facilities were constructed inPakistanin 2002 (seeHaier Pakistan) andJordanin 2003. In Africa, Haier has plants in five countries:Tunisia,Nigeria,Egypt,AlgeriaandSouth Africa.[12]The company also purchased a Meneghetti's factory inItalyand began placing its products in European retail chains, either under its own brand or underOEMagreements with foreign partners. Currently Haier has entered into a joint venture agreement with the government ofVenezuela.[13]

Haier Appliances (India) P. Ltd initiated its commercial operations in January 2004. Its headquarters is in New Delhi, and in 2015 it had 33 operations, including those inMumbai,Bangalore,Chennai,andKolkata.It was listed among the top 20 most trusted brands in India by The Brand Trust Report, a study conducted by Trust Research Advisory.

In June 2005, Haier made a bid to acquireMaytag Corporation,backed byprivate equity fundsBlackstone GroupandBain Capital.The bid was for US$1.28 billion, or $16 per share, topping a previous offer of $14.26 per share made byRipplewood Holdings.[14]In the end, however, Maytag was bought byMichiganbasedWhirlpool Corporationwhich offered $1.7 billion in cash and stock, or $21 per share, plus assumed debt.[15]

A Haier smartphone at theMobile World Congress2015

In 2009, Haier surpassed Whirlpool to become the fourth largest refrigerator producer in terms of sales with a global market share of 6.3%.[16]

In 2012, Haier Group acquired the appliance business from New Zealand-basedFisher & Paykel,[17]andSanyo's Southeast Asian appliance manufacturing unit.[18]

In June 2016 Haier Group acquiredGeneral Electric'sappliance divisionfor $5.4 billion.[19]GE Appliances is headquartered in Louisville, KY.

On 28 September 2018, it was announced that Haier had acquired Italy basedCandy group.[20]

By 2020, Haier had been the world's number one home appliance brand for 12 consecutive years.[21]

Brands

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  • Haier
  • Casarte
  • Leader
  • GE Appliances
  • Fisher & Paykel
  • AQUA
  • CANDY
  • Hoover
  • Thunderobot

Technology

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In 2015, Haier began investigating how theinternet of thingscould be integrated into their devices.[22]The company cited by theStanford Artificial Intelligence Laboratory,which found three barriers to the adoption of smart home technology: lack of unified protocols/single point of access, passive services and the lack of complete solutions. At the time Haier's core competencies lay within the large appliance sector and not the small electronics sector. Subsequently, they partnered with the then leading IoT platform IngDan (Ngạnh trứng) owned by theCogobuy Groupto overcome their shortcomings.[23]By utilising Cogobuy'secosystemandsupply chain,they were able to integrate IngDan's portfolio of components, modules, andedgevoice analysis intosmart applianceproducts.[24]Haier introduced their smart appliances across seven product lines in themajor applianceindustry: air, water, clothes care, security, voice control, health and information.

Company strategy

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Zhang Ruimin, soon after becoming managing director in 1985, ordered his employees to destroy 76 refrigerators withsledgehammersfollowing a customer complaint in an effort to radically change thecompany's cultureto one that embodiesquality controlpractices.[10][25]At the time, Chinese brands for domestically producedconsumer goodswere generally regarded by overseasconsumer marketsas being of poor quality, even when compared subjectively with foreign brands manufactured in China.[26]The cultural transformation towards quality driven manufacturing resulted in Haier becoming the first company in China to getISO 9001 certification.[10]Haier also announces environmental sustainable development strategy to improve the environment by conserving energy and recycling. In 2018, Haier got “Greener China Business Award” due to its outstanding efforts to protect the environment.[27]In 2015, Haier joinedWIPO GREENas an official partner in an effort to address climate change.[28]

Ownership structure

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In 1993, it listed a subsidiaryQingdao Haier Refrigerator Co.on theShanghai Stock Exchange,[6]raisingCN¥370 million. In 2005, Haier entered theHong Kong Stock Exchangethrough a "backdoor listing"by acquiring a controlling stake in a publicly listedjoint ventureHaier-CCT Holdings Ltd.[6](SEHK:1169).[citation needed]Haier is also an index stock of theDow JonesChina 88 Index.

Because all subsidiaries aren't listed in the Chinese exchange, obtaining financial information about the company in its entirety separately from the company itself is difficult.[29]

Controversy

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In 2014, Haier was accused by German media of delivering smartphones and tablets with pre-installedmalware.[30][31]

In 2024, Haier sentcease and desistletters to theopen-sourceprojects hOn and pyhOn, which developed an add-on forHome Assistantthat allowed one to control appliances without Haier's 3rd-party cloud service.[32][33]

See also

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References

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  1. ^abcdef"Annual Report 2021"(PDF).Haier. pp. 19, 22.[permanent dead link]
  2. ^Yi, Jeannie Jinsheng; Ye, Shawn Xian (2003).The Haier Way: The Making of a Chinese Business Leader and a Global Brand.Dumont, New Jersey: Homa & Sekey. p. 2.ISBN1-931907-01-3.
  3. ^"Haier ranks first in volume sales of major appliances brands in the world in 2018-Haier Malaysia".haier.Retrieved25 November2019.
  4. ^"From the Global No 1 Home Appliance Brand to the Global Sole IoT Brand – Reuters".reuters.Retrieved25 November2019.[dead link]
  5. ^"Qingdao Haier shareholders back Frankfurt listing".Reuters.28 April 2018.Retrieved29 April2018.
  6. ^abcdefghijk"History of Haier Group Corporation – FundingUniverse".Retrieved15 January2016.
  7. ^"Haier Rises Through Reform and Opening Up".People's Daily.8 August 2001. Archived fromthe originalon 1 January 2015.Retrieved30 January2024.
  8. ^"Hǎi'ěr jítuán shíshī shāngbiāo zhànlüè chuàngjiàn guójì zhīmíng pǐnpái"Hải ngươi tập đoàn thực thi nhãn hiệu chiến lược sáng tạo quốc tế nổi danh nhãn hiệu[Haier Group implements trademark strategy to create internationally renowned brands].Haier Group(in Chinese). 28 April 2014. Archived fromthe originalon 15 September 2019.Retrieved26 February2018.
  9. ^"Hǎi'ěr rúhé chéngwéi qǐyè" chuàngxīn jiàokēshū "?"Hải ngươi như thế nào trở thành xí nghiệp "Sáng tạo sách giáo khoa"?[How Haier became an “innovation textbook” for enterprises].Lishi Business Network(in Chinese).Sohu.19 March 2017.Retrieved30 January2024.
  10. ^abcdHaier Group's Strategies in the US Market(Case study). IBS Center for Management Research. 2003.
  11. ^"Chinese Champions - Patente Made in China"(PDF).Chinese Champions(in German). pp. 19–23. Archived fromthe original(PDF)on 7 December 2013.Retrieved30 January2024.
  12. ^""We will be volunteer 'spokespersons' for Haier," African party officials say ".People's Daily Online.28 June 2005. Archived fromthe originalon 2 August 2017.Retrieved30 January2024.
  13. ^"Haier's household appliances are sold very well in Venezuela".[permanent dead link]
  14. ^"Blackstone and Bain back Chinese firm Haier in $1.28bn Maytag bid".Archived fromthe originalon 28 September 2007.
  15. ^"Done Deal; Whirlpool Acquires Maytag For $2.7 Billion".13 May 2023.
  16. ^"Haier tops Whirlpool in global refrigerator sales".Alibaba.20 January 2009.
  17. ^Tajitsu, Naomi (6 November 2012)."China's Haier to take complete control of NZ's F&P Appliances".Reuters.Retrieved15 March2021.
  18. ^"Haier Completes Sanyo Acquisition in Southeast Asia".Official Haier website (Malaysia).30 March 2012.Archivedfrom the original on 5 July 2022.Retrieved28 December2022.
  19. ^Riley, Charles (15 January 2016)."China's Haier buys GE's appliance unit for $5.4 billion".CNNMoney.Retrieved15 March2021.
  20. ^"Haier acquires Italian appliance company Candy".Industry Europe.4 October 2018.Retrieved15 March2021.[permanent dead link]
  21. ^"Haier – the number 1 global major appliance brand for 12 years running".ERT.14 January 2021.Retrieved29 November2021.
  22. ^Crist, Ry (3 September 2015)."Haier's pitch at IFA: Connect all of the things".CNET.
  23. ^"Cogobuy Partners with Samsung ARTIK™ Enhancing its Competitive Edge as a Leading IoT Innovation Platform".The Business Journals.17 September 2017.
  24. ^"Cogobuy Enters Booming Voice-Controlled Home Appliances Market".Business Insider.14 March 2017.Archivedfrom the original on 25 March 2019.
  25. ^Fischer, Bill; Lago, Umberto; Liu, Fang (27 April 2015)."The Haier Road to Growth".strategy+business.
  26. ^Eloot, Karel; Huang, Alan; Lehnich, Martin (June 2013)."A new era for manufacturing in China".McKinsey.
  27. ^"Haier Marks Earth Hour with Cross-Continent Interactive Performances-Haier Malaysia".haier.Retrieved3 December2020.
  28. ^"WIPO Green - Partners".www3.wipo.int.Retrieved19 September2022.
  29. ^Yi, Jeanne Jinsheng; Ye, Shawn Xian (2003)."Conclusion".The Haier Way: the Making of a Chinese Business Leader and a Global Brand.Dumont, NJ: Homa & Sekey Books. pp. 229–230.ISBN1-931907-01-3.Retrieved30 January2024.
  30. ^Fuest, Benedikt (10 December 2014)."Vorsicht vor Smartphones mit vorinstallierter Spyware"[Beware of smartphones with pre-installed spyware].DIE WELT(in German).Archivedfrom the original on 14 February 2015.Retrieved15 January2016.
  31. ^Kalenda, Florian (4 December 2014)."Lookout meldet auf Smartphones vorinstallierten Android-Trojaner"[Lookout reports Android Trojans pre-installed on smartphones].ZDNet.de(in German).Archivedfrom the original on 18 March 2015.Retrieved15 January2016.
  32. ^Toulas, Bill (18 January 2024)."Haier hits Home Assistant plugin dev with takedown notice".BleepingComputer.Archivedfrom the original on 20 January 2024.Retrieved19 January2024.
  33. ^Posch, Maya (19 January 2024)."Haier Threatens Legal Action Against Home Assistant Plugin Developer".Hackaday.Archivedfrom the original on 30 January 2024.Retrieved19 January2024.
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