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

Qingdao Haier Latest News

Qingdao Haier Acquires GE Appliances

QINGDAO, China, June 6, 2016 /PRNewswire/ -- Qingdao Haier Co., Ltd. (SHA: 600690; "Qingdao Haier"), a Shanghai stock exchange listed company that is 41% owned by Haier Group ("Haier") and General Electric Company (NYSE: GE; "GE") today announced the ...
Posted: June 6, 2016, 1:04 pm

Company Overview of Qingdao Haier Home Integration Co., Ltd.

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence ...
Posted: November 27, 2016, 3:55 am

UNDP and Haier work for healthy water

Both parties established a strategic partnership and signed a memorandum of understanding in Qingdao, in East China's Shandong province, where Haier Group is headquartered. In response to the calls of the 2030 Agenda for Sustainable Development of the ...
Posted: November 30, 2016, 8:00 am
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