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Concept
Haier
Summary
Haier Group Corporation (ˈhaɪ.ər) is a Chinese multinational home appliances and consumer electronics company headquartered in Qingdao, Shandong. It designs, develops, manufactures and sells products including refrigerators, air conditioners, washing machines, dryers, microwave ovens, mobile phones, computers, and televisions. The home appliances business, namely Haier Smart Home, has seven global brands – Haier, Casarte, Leader, GE Appliances, Fisher & Paykel, Aqua and Candy.
According to data released by Euromonitor, 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 as the most valuable IoT ecosystem brand in the world with a brand value of 27.7 billion.
Haier Group also consisted of two listed subsidiaries in three exchanges: Haier Smart Home (; ex-Qingdao Haier Co., Ltd.), Haier Electronics Group Co., Ltd. (), and "D-share" listing of Haier Smart Home in China Europe International Exchange of Frankfurt.
The origins of Haier date back long before the actual founding of the company. In the 1920s, a refrigerator factory was built in Qingdao to supply the Chinese market. After the 1949 establishment of the People's Republic of China, the factory was then taken over and turned into a state-owned enterprise.
By the 1980s, the factory had a debt of over CN¥1.4 million and suffered from dilapidated infrastructure, poor management, and lack of quality controls, resulting from the planned economic system and relevant policies. Production had slowed, rarely surpassing 80 refrigerators a 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.
Haier had been founded as Qingdao Refrigerator Co. in 1984.
Official source
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