Qingdao Haier Net Worth is4.3 $Billion
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Company Name: Haier Group
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Haier Group (simplified Chinese: aeu?a??; traditional Chinese: aeu?c? 3/4 ; pinyin: HC?i'A?r) (SEHK: 1169, SSE: 600690) is a Chinese multinational consumer electronics and home appliances company headquartered in Qingdao, Shandong, People's Republic of China. Its products include air conditioners, mobile phones, computers, microwave ovens, washing machines, refrigerators, and televisions. In 2011 the Haier brand had the world's largest market share in white goods, with 7.8 per cent.
The origins of Haier date back long before the actual founding of the company. In the 1920s, a refrigerator factory was built in Qingdao to supply the Chinese market. After the 1949 establishment of the People's Republic of China, this factory was then taken over and turned into a state-owned enterprise.
By the 1980s, the factory had debt of over CNY A?1.4 million and suffered from dilapidated infrastructure, poor management, and lack of quality controls, resulting from the planned economic system and relevant policies. Production had slowed to a trickle, rarely surpassing 80 refrigerators a month, and the factory was close to bankruptcy. In desperation, the Qingdao government turned to 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.
Zhang was an avid reader of Western and Japanese business practices and management techniques. When he arrived in 1984, Zhang realized that the poor condition of the factory's quality controls was endangering its continued survival.
In 1985, a customer brought a faulty refrigerator back to the factory and showed it to Zhang. Zhang and the customer then went through his entire inventory of 400 refrigerators looking for a replacement. In the process he discovered that there was a 20 percent failure rate in his merchandise. To emphasize the importance of product quality, Zhang had the 76 dud refrigerators lined up on the factor

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Qingdao Haier Latest News

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Haier Group's proposed $5.4 billion takeover of General Electric Co.'s appliance business would hand the Chinese manufacturer a substantial position in the U.S. market after a decade of trying. The deal would vault the state-owned company past Electrolux ...
Posted: January 15, 2016, 11:49 pm

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Posted: January 10, 2018, 5:49 am
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