Haier Asia, the Japan and ASEAN regional headquarters of the Haier group, kicks off its Laos expansion plans

at the first-ever LAO TECHMART

Tokyo, Japan, December 11, 2014 – President and CEO Yoshiaki Ito of Haier Asia Co., Ltd., a part of the global powerhouse Haier group, today unveils its products exhibition zone in the first-ever LAO TECHMART, taking one of the first steps in the Laos portion of its ASEAN expansion.    

Haier Asia introduces its latest lineup to the growing country, including best-selling refrigerators, washing machines, PCs and tablets.  In addition, LED TVs, air conditioners and e-bikes are also being featured.  The innovation showcase will attract business and consumer interest in the Haier brand, helping to realize the brand’s full potential in Laos.

Leveraging on the ASEAN Free Trade Agreement (AFTA), the company aims to build its presence in Southeast Asia, especially in the Laos, Cambodia, and Myanmar sub-region, well positioning itself for exponential growth in the future.  The company plans to double the size of its operations in the region in 5 years, to over US$1 billion in sales revenue.   

To prepare for its Laos presence, the company and AMZ Group Co., Ltd., a conglomerate and advisory firm for foreign investment into Laos, have jointly signed a strategic partnership with the Ministry of Science and Technology (MOST) of the Lao People's Democratic Republic in November 2014.  The partners are working together to develop products for the educational system and e-bike related industries.  Haier Asia and AMZ Group also agreed on the establishment of a company named Haier Lao to operate a local sales company in Vientiane, accelerating the availability of innovative products from Haier Asia to Laos.  TECHMART provides the perfect inaugural platform for Haier Asia to showcase itself to the Laotian community.

Haier Asia President and CEO Yoshiaki Ito said the following: “With TECHMART, we could not have a better opportunity to showcase latest products and solutions to Laotians. Our drive to expand in the ASEAN region cannot happen without an important market like Laos.  We believe the ASEAN region is set for high growth in the next five years, and we are preparing ourselves for the bright future.”

Haier Asia showcases its latest products line up at LAO TECHMART -2014

What: Introduction of Haier Asia’s latest lineup for the Lao market including e-bikes, PCs, tablets, talking dictionaries, LED TVs, air conditioners, washing machines, refrigerators and various other products.

When: 11 to 15 December 2014

Where: Booth J01-J10, Lao ITECC, Vientiane.

ABOUT HAIER GROUP

Haier is a global leader in innovative smart living solutions. Its mission is to create home appliances that anticipate the fast-changing needs of consumers in more than 100 countries around the globe. With global revenues of US$29.5 billion and a profit of US$1.76 billion in 2013, Haier is the world's largest home appliance provider by market share. Euromonitor International, the most respected provider of strategy research for consumer markets, has named Haier the number one major home appliances brand globally in terms of market share every year for the last five years. In 2012 the Boston Consulting Group named Haier as one of the ten most innovative companies in the world.

Haier Electronics Group Co., Ltd. a subsidiary of Haier Group, is listed on the Hong Kong Stock Exchange (HKG: 1169). Qingdao Haier Co., also a subsidiary of Haier Group, is listed on the Shanghai Stock Exchange (SHA: 600690).