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Haier dominates global white goods market

Apr. 5, 2012 (China Knowledge) - Haier Group, a leading Chinese white goods manufacturer, yesterday announced that it led the global market leader of white goods, including refrigerator, washing machine and air conditioner, with a 7.8% share in 2011, up from 6.8% in 2010.

This was the third consecutive year Haier Group dominated the global white goods market, said a person familiar with the matter.

Last year, the market share of LG Group was 4.9%, Whirlpool 4.5%, Midea Group, the parent co of GD Midea Holding Co Ltd<000527> 3.4%, South Korea-based Samsung Electronics 3.4%, Electrolux 2.9% and U.S. power and technology giant General Electric Co 2.9%, sources reported.

In 2011, Haier Group's operating revenue increased by 11% year on year to RMB 150.9 billion, principally boosted by increased sales in the overseas market.

The Chinese white goods maker, the parent co of Qingdao Haier Co Ltd<600690> and Haier Electronics Group Co Ltd<1169>, saw Qingdao Haier's operating revenue up 13.86% year on year to RMB 73.66 billion last year.

Net profit attributable to shareholders of Qingdao Haier surged 20.09% from a year earlier to RMB 2.69 billion in 2011.

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