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Samsung Signs Deal with Chinese Appliance Retailer Dec 19, 2005 |
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South Korea-based Samsung Electronics signed a deal worth 455 billion won (approx. U.S. $448 million) to supply home appliances to Guomei Electronics, a leading Chinese retailer.
Samsung will provide products ranging from mobile handsets, digital TVs, and refrigerators to the chain for 1 year under the deal, the company said.
According to Yonhap, the deal is reportedly the largest single contract by a South Korean firm to supply a Chinese home appliance chain.
Samsung and Guo Mei have also agreed to build up a strategic partnership to boost sales in the fast-growing Chinese home appliances market. (Yonhap, Forbes)