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

Profile: Qingdao Haier Co Ltd (600690.SS)

QINGDAO HAIER CO., LTD. is a China-based company principally engaged in the research, development, manufacture and distribution of household electrical appliances. The Company’s main products include refrigerators/freezers, washing machines, air ...
Posted: April 12, 2018, 5:00 pm

BRIEF-Qingdao Haier To Issue Up To 400 Mln D-Shares To List On China Europe International Exchange

April 10 (Reuters) - Qingdao Haier Co Ltd: * SAYS IT PLANS TO ISSUE UP TO 400 MILLION D-SHARES TO LIST ON THE CHINA EUROPE INTERNATIONAL EXCHANGE Source text in Chinese: https://bit.ly/2uXE9BW Further company coverage: (Reporting by Hong Kong newsroom)
Posted: April 9, 2018, 5:00 pm

Chinese Brand Haier Secures Extraordinary Customer Loyalty in France: Three Generations of a Family in Saint-Cyr, Paris Use Haier Refrigerators

QINGDAO, China--(BUSINESS WIRE)--On April 22nd, a post on Facebook which said "Because of a product, I fell in love with a brand. Three generations of my family fell in love with three generations of Haier refrigerators" aroused wide attention and discussion.
Posted: April 23, 2018, 12:00 am
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