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GE Appliances is an American home appliance (Chinese owned) manufacturer based in Louisville, Kentucky. It is owned by Haier Smart Home Company, a publicly-traded affiliate of Haier, after an acquisition from General Electric in 2016. Haier has the right to use the GE brand name until 2056. [3]
In 1911, GE released a household refrigeration unit that was powered by gas. The use of gas eliminated the need for an electric compressor motor and decreased the size of the refrigerator. However, electric companies that were customers of GE did not benefit from a gas-powered unit. Thus, GE invested in developing an electric model.
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Food in a refrigerator with its door open. A refrigerator, commonly shortened to fridge, is a commercial and home appliance consisting of a thermally insulated compartment and a heat pump (mechanical, electronic or chemical) that transfers heat from its inside to its external environment so that its inside is cooled to a temperature below the room temperature. [1]
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In the 1990s, the appliance industry was very consolidated, with over 90% of the products being sold by just five companies. For example, in 1991, dishwasher manufacturing market share was split between General Electric with 40% market share, Whirlpool with 31%, Electrolux with 20%, Maytag with 7% and Thermador with just 2%. [8]
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