Haier Pushes for Global Brand Dec 27, 2005

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In celebration of its 21st anniversary on Dec. 25, 2005, China-based appliance and consumer electronics maker Haier announced its new global development strategy and predicted a substantial increase in overseas sales in 2006.

The company announced that its new strategy focuses on globalizing its brand. Haier began its efforts to go global 5 years ago. Today, the home electronics giant operates 30 production bases overseas, and employs more than 50,000 staff worldwide. Its production of refrigerators, air-conditioners and washing machines are among the biggest in the world. However, the company is set to aim higher.

Chairman and CEO Zhang Ruimin said: "What we have done over the past 5 years is to expand overseas from our base in China. But our new strategy will require us to take root in global markets and forge our brand globally."

According to Haier, while cultural differences and conflicts constitute the biggest obstacle for its globalization, the company believes creating a global marketing and sales network will be its top priority.

Hair said it expects U.S. $12.8 billion in revenue in 2005, most of that in China. The company's reported estimated overseas revenue of $2.8 billion, 40 percent more than 2004. (CCTV.com)

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