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Haier Smart Home Company is ranked 407th on the Fortune 500. [3] According to Euromonitor International, Haier was the number one brand globally in major appliances for 10 consecutive years from 2009 to 2018. [4]
On June 6, 2016, Qingdao Haier (now Haier Smart Home Company) acquired GE Appliances for $5.6 billion. Under the terms of the sale, Haier has the right to use the GE brand name until 2056. GE Appliances launched a refreshed tagline ("good things, for life") in 2017, [ 14 ] [ 15 ] [ 16 ] a nod to its history with General Electric, which used the ...
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Candy is an Italian domestic appliance maker and is a subsidiary of Chinese multinational home appliances company Haier. It is based in Brugherio, near Milan. Candy's appliances are better known through their continued marketing of the Hoover and Kelvinator brands. Over 80% of sales are outside Italy.
In 2005, Haier sought to expand its share of foreign markets by acquiring rival white-goods OEMs and by expanding overseas production capacity. With backing from two large U.S. private equity funds, Haier made a bid to acquire U.S. appliance maker Maytag for $1.28 billion. The bid failed and Maytag was bought by Whirlpool for $1.7 billion. [23]
In 2004, Haier began manufacturing home appliances in Pakistan, including microwave ovens. [1] In 2015, Haier invested $5 million to establish a mobile phone assembly plant in Lahore, which would annually manufacture over 1.5 million cellphones for the Pakistani market. [3] In 2017, Haier established a plant to assemble laptops in Pakistan. [4]
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