Haier

TIME: Whirlpool,Watch Out! The bottom revenue of the world top 500 is US$10.3 billion, which can be reached only by few Chinese enterprises in the sectors of banking, telecommunications, petroleum and chemical engineering. Consumer goods manufacturers in China are not qualified to be listed among the world top 500. But Haier, a new rising star, is ready to try. Haier has been trying hard during the last few years to reach the sixth largest household appliance manufacturers in the world. Over the last two years, Haier has enjoyed 60% of the wine cabinet market share in USA, with a turnover of US$200 million. Haier is now expected to double its production capacity this year. In 2000, Haier established a refrigerator factory in Camden, South Carolina, USA. "As an international enterprise, we always keep promise before Americans," said the 36-year old president of American Haier. The difference between Haier and other Chinese enterprises is that their way of think differ. Now, let's see how Haier has cracked American market for mini refrigerators. A few years ago, noticing the demand for lockable refrigerators from university students and auto-defrosting refrigerators from hotels, Haier immediately developed refrigerators in various designs and colors, even stainless steel types to meet such demand. Although highly priced, Haier refrigerators accounted for 40% of the mini refrigerator market share. Many household appliance companies, including Sanyo, had to follow suit. Haier has entered the international household appliance market and Haier white household appliances have enjoyed a high market share.