30 May 2011

Appliance company to sell its technology

7:05 am on 30 May 2011

Fisher & Paykel Appliances is planning to sell competitors some of the components that have given its products a technological advantage over the market.

On Friday, the whiteware manufacturer posted a $33.5 million profit for the year to the end of March, a massive turnaround on last year's $83 million loss.

However, appliance sales for the same period fell 5%, supporting the company's decision to leverage component sales.

Chief executive, Stuart Broadhurst says it makes sense to seek returns on the intellectual property that Fisher & Paykel has developed over the past two decades.

He says some of the systems that Fisher & Paykel has developed will be made available to its competitors.

But Mr Broadhurst says he is confident that the company will continue to innovate those products that will keep the Fisher & Paykel brand ahead of the competition.

He says Haier, which owns 20% of Fisher & Paykel, will be the first company to benefit from the New Zealand designed components.

Mr Broadhurst says supplying components is the best way Fisher & Paykel shareholders can benefit from the company's relationship with the Chinese whiteware manufacturer.