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Native name | 海尔集团公司 |
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| Company type | Public |
| Dow Jones China 88 Index component | |
| Industry | |
| Founded | 28 April 1984; 40 years ago (1984-04-28) |
| Founder | Zhang Ruimin |
| Headquarters | , China |
Area served | Worldwide |
Key people |
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| Products |
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| Revenue |  CN¥227.5 billion (2021) (Haier Smart Home) |
| CN¥15.91 billion (2021) (Haier Smart Home) | |
| CN¥13.21 billion (2021) (Haier Smart Home) | |
| Total assets | CN¥217.5 billion (2021) (Haier Smart Home) |
| Total equity | CN¥81.0 billion (2021) (Haier Smart Home) |
Number of employees | 109,586 (2021) (Haier Smart Home) |
| Subsidiaries |
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| Website | haier.com |
| Footnotes / references [1] | |
| Haier | |||||||
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| Simplified Chinese | 海尔 | ||||||
| Traditional Chinese | 海爾 | ||||||
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Haier Group Corporation (/ˈhaɪ.ər/)[2] is a Chinesemultinationalhome appliances andconsumer electronics company headquartered inQingdao,Shandong. Its Haier Smart Home Company affiliate, of which it owns 35%, designs, develops, manufactures and sellshome appliances includingrefrigerators,air conditioners,washing machines,dryers, andmicrowave ovens under the brand names Haier, Casarte, Leader,GE Appliances,Fisher & Paykel, Aqua andCandy. Its Haier Electronics Group affiliate manufacturesconsumer electronics such asmobile phones,computers, andtelevisions. Its ThundeRobot brand, founded in 2014,[3] is focused ongaming computers and accessories. Haier Smart Home Company is ranked 407th on theFortune 500.[4]
According toEuromonitor International, Haier was the number one brand globally in major appliances for 10 consecutive years from 2009 to 2018.[5] 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 $16.3 billion.[6][7]
Haier Group has two publicly traded affiliates that trade on three stock exchanges:Haier Smart Home (海尔智家) (SSE:600690 as well as "D-share" listing of Haier Smart Home in China Europe International Exchange of Frankfurt; ex-Qingdao Haier Co., Ltd.) andHaier Electronics Group Co., Ltd. (SEHK: 1169).[8] In 1993, it listed itsQingdao Haier Refrigerator Co. subsidiary on theShanghai Stock Exchange,[9] raisingCN¥370 million. In 2005, Haier entered theHong Kong Stock Exchange through a "backdoor listing" by acquiring a controlling stake in a publicly listedjoint ventureHaier-CCT Holdings Ltd.[9] (SEHK: 1169).
The origins of Haier date back to a refrigerator factory built inQingdao to supply the Chinese market in the 1920s. After the1949 establishment of the People's Republic of China, the factory was then taken over and turned into astate-owned enterprise.[9]
By the 1980s, the factory had a debt of overCN¥1.4 million and suffered from dilapidated infrastructure, poor management, and lack ofquality controls, resulting from theplanned economic system and relevant policies.[10] Production had slowed, rarely surpassing 80refrigerators 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.[9]
Haier was founded asQingdao Refrigerator Co. in 1984. With China opening up to world markets, foreign corporations began searching for partnerships in China. One of these, Germany's refrigerator companyLiebherr, entered into ajoint-venture contract with Qingdao Refrigerator Co., offering technology and equipment to its Chinese counterpart. Refrigerators were to be manufactured under the name ofQindao-Liebherr (simplified Chinese:琴岛—利勃海尔;traditional Chinese:琴島-利勃海爾;pinyin:Qíndǎo—lìbó hǎi'ěr). The current brand "Haier" came from the last two syllables of theChinesetransliteration of Liebherr (pinyin:lìbó hǎi'ěr).[11][12]
The installation of Liebherr's equipment and technology was accompanied by new quality control and management processes. By 1986, Qingdao Refrigerator had returned to profitability and grew in sales at an average of 83 percent annually. Between 1984 and 2000, sales grew fromCNY ¥3.5 million to ¥40.5 billion.[9]
In 1988, the municipal government asked Haier to take over some of the city's other ailing appliance manufacturers. The company assumed control of Qingdao Electroplating Company (manufacturingmicrowave ovens).[9] In 1991, the company changed its name to "Qingdao Haier Group" and acquired Qingdao Air Conditioner Plant and Qingdao Freezer.[9] The company's name was simplified to its current name "Haier" in 1992.[9] In 1995, the company took over Qingdao Red Star Electronics Co., awashing machine manufacturer, along with five of its subsidiaries.[13] Haier acquired seven companies between 1995 and 1997, and began exporting to foreign markets.[14]
In Southeast Asia, Haier opened production facilities inIndonesia in 1996 and thePhilippines in 1997[9] and failed in an attempt to enter theThai market due to the presence of local competitors.[9]
Haier entered the US market in 1999.[13] In the US it focused upon twoniche markets in compact refrigerators and electricwine cellars. Haier began to manufacture full-sized refrigerators for North American market. This would bring it into direct competition with established American companiesGE,Whirlpool,Frigidaire, andMaytag. As part of its strategy, Haier built a production facility in the United States atCamden, South Carolina, opened in 2000. By 2002, US revenues reachedUSD $200 million, still small compared to its overall revenue of $7 billion.[9] Also in 2002, Haier moved into theGreenwich Savings Bank Building inmidtown Manhattan. Formerly the headquarters for theGreenwich Savings Bank, the 52,000-square-foot (4,800 m2) building was built in 1924 in theneo-classical style.
Production facilities were constructed inPakistan in 2002 (seeHaier Pakistan) andJordan in 2003. In Africa, Haier has plants in five countries:Tunisia,Nigeria,Egypt,Algeria andSouth Africa.[15] The company also purchased a Meneghetti's factory inItaly and began placing its products in European retail chains, either under its own brand or underOEM agreements with foreign partners.
Haier Appliances (India) P. Ltd initiated its commercial operations in January 2004. Its headquarters is in New Delhi, and in 2015 it had 33 operations, including those inMumbai,Bangalore,Chennai, andKolkata. It was listed among the top 20 most trusted brands in India by The Brand Trust Report, a study conducted by Trust Research Advisory.
In June 2005, Haier bid to acquireMaytag Corporation, backed byprivate equity fundsBlackstone Group andBain Capital. The bid was for US$1.28 billion, or $16 per share, topping a previous offer of $14.26 per share made byRipplewood Holdings.[16] However, Maytag was bought byMichigan-basedWhirlpool Corporation which offered $1.7 billion in cash and stock, or $21 per share, plus assumed debt.[17]
In 2008, Haier entered into ajoint venture agreement with the government ofVenezuela.[18]
In 2009, Haier surpassed Whirlpool to become the fourth largest refrigerator producer in terms of sales with a global market share of 6.3%.[19]
In 2012, Haier Group acquired the appliance business from New Zealand-basedFisher & Paykel,[20] andSanyo's Southeast Asian appliance manufacturing unit.[21]
In June 2016, Haier Group acquiredGE Appliances, headquartered inLouisville, Kentucky, fromGeneral Electric for $5.6 billion.[22][23][24]
In October 2018, Haier acquired Italy basedCandy group.[25]
By 2020, Haier had been the world's number one home appliance brand for 12 consecutive years.[26]
In 2024, Haier Smart Home is spearheading the AI evolution in the appliance industry, offering a strategic blueprint for global executives to leverage AI for transformative growth and enhanced user experiences.[27]
In October 2024, Haier Smart Home acquired Carrier Commercial Refrigeration fromCarrier Global for $775 million.[28]
In 2015, Haier began investigating how theinternet of things could be integrated into its devices.[29] The company cited by theStanford Artificial Intelligence Laboratory, which found three barriers to the adoption of smart home technology: lack of unified protocols/single point of access, passive services and the lack of complete solutions. At the time Haier's core competencies lay within the large appliance sector and not the small electronics sector. Subsequently, it partnered with the then leading IoT platform IngDan (硬蛋) owned byCogobuy to overcome its shortcomings.[30] By utilising Cogobuy'secosystem andsupply chain, Haier was able to integrate IngDan's portfolio of components, modules, andedge voice analysis intosmart appliance products.[31] Haier introduced its smart appliances across seven product lines in themajor appliance industry: air, water, clothes care, security, voice control, health and information.
Zhang Ruimin, soon after becoming managing director in 1985, ordered his employees to destroy 76 refrigerators withsledgehammers following a customer complaint in an effort to radically change thecompany's culture to one that embodiesquality control practices.[13][32] At the time, Chinese brands for domestically producedconsumer goods were generally regarded by overseasconsumer markets as being of poor quality, even when compared subjectively with foreign brands manufactured in China.[33] The cultural transformation towards quality driven manufacturing resulted in Haier becoming the first company in China to getISO 9001 certification.[13]
Haier also has an environmental sustainable development strategy to improve the environment by conserving energy and recycling. In 2018, Haier got the "Greener China Business Award" due to its outstanding efforts to protect the environment.[34] In 2015, Haier joinedWIPO GREEN as an official partner in an effort to addressclimate change.[35] Haier also announced a three-year partnership with theAustralian Open in November 2024.[36]
In 2014, Haier was accused by German media of delivering smartphones and tablets with pre-installedmalware.[37][38]
In 2024, Haier sentcease and desist letters to theopen-source projects hOn and pyhOn, which developed an add-on forHome Assistant that allowed one to control appliances without Haier's 3rd-party cloud service.[39][40]
Following Russia’s invasion of Ukraine in 2022 and subsequent international sanctions, Haier faced criticism for its continued expansion in the Russian market. Haier announced plans to increase production in Naberezhnye Chelny, including facilities for refrigerators, washing machines, and televisions, along with the establishment of a fourth factory and plans to recruit developers in Russia for its proprietary OS for smart appliances.[41] The company also plans to repurpose Candy’s factory in Kirov to further expand its manufacturing capabilities in Russia. Despite global calls for corporate responsibility, Haier has significantly increased its revenue in Russia, reportedly more than 1.5 times in 2023 compared to 2022.[42]
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