Haier Group Corp. and Sanyo Electric Company held an event in Singapore to mark the completion of Haier's acquisition of Sanyo's refrigerator, washing machine, and other consumer electric appliances business in Japan, Indonesia, Malaysia, and the Philippines.
The acquisition agreement, developed in July 2011, transferred Sanyo's appliance operations and customer care/after-sales service operations to Haier in each of the markets.
Haier's dual-brand strategy is now in operation across these markets. Haier's Asian Headquarters will now be in Japan, where it will market the Haier and Aqua brands. The Haier brand will be used in Vietnam, Indonesia, the Philippines, and Malaysia and it will continue to use the Sanyo brand name under license in these markets for a time.
"Sanyo Electric has already earned a strong reputation for its R&D, product line and marketing network in Japan and Southeast Asia," said Mr. Du Jingguo, vice president of Haier Group. "Our dual-brand strategy was designed to leverage Sanyo Electric's competitive advantages while enhancing the new markets' offerings through Haier's strengths in innovation, quality and design. We hope Haier can bring additional high-quality choices to consumers in these markets to help them better enjoy their life."
to Daily News