China Household Appliance Giant Sees Record Earnings in Overseas Market
Haier Group, a well-known brand name in China, raked in more than $700 million from overseas household appliance markets during the first six months, up 33 percent year-on-year.
The U.S., where the company posted a record daily turnover of $10 million dollars from January to June, has been viewed as the fastest growing overseas market for the company, Thursday's Economic Inference Daily reports.
To make its way to as many developed countries as possible, the company made several innovations in its marketing strategies and had many of its products tailor-made for some niche markets. In the Republic of Korea, for instance, portable Haier air conditioning were an instant hit in apartments and university dormitories.
The company also doubled its efforts in tapping products with independent intellectual property rights. Its washing machines sold well in Pakistan and Japan while mini-refrigerators were popular in the U.S.
With 30 overseas production bases and 22 trade centers, Haier Group aims to make full use of overseas resources to best service global customers, the article said.