Haier entered strategic partnerships, including one with Alibaba, in which the appliance maker provides “last mile” delivery and installation support for the ecommerce giant. The relationship is part of Haier’s effort to leverage its distribution channels.
The company continued to develop smart appliances that meet customer desires beyond price. Haier’s range in China includes water heaters, air conditioners, refrigerators, washing machines, televisions and other major appliances. Haier is present in over 100 countries.
Established as Qingdao Refrigerator Company, in 1984, Haier was the successor to an old factory that, since 1949, had been run as a state enterprise. Qingdao Haier Company, Ltd. is listed on
the Shanghai Stock Exchange. Its China subsidiary, Haier Electronics Group Company, Ltd. trades on the Hong Kong Stock Exchange.
Net income grew 21 percent to $418 million in the first half of 2014, on a 10 percent revenue improvement to $7.6 billion. For the full year 2013, net income surged 31 percent to $678 million on $14.0 billion in revenue, up 11 percent.