Haier sees top end market for goods by FPA
Updated at 8:43pm on 9 February 2010
Haier is to sell top-end whiteware goods by Fisher & Paykel Appliances in China.
Haier has a 20% stake in Fisher & Paykel Appliances, and the two will sell each other's products in their home markets and Australia.
The company is the world's biggest producer. It makes 15,000 different home appliances in 96 categories.
Haier's revenue was $US17.4 billion in 2008.
Asia Pacific president Philip Carmichael says Haier uses scale to keep prices low for consumers and also hopes to benefit from using Fisher & Paykel's after-sales service.
Mr Carmichael says the two companies share much in common, including investing heavily in research and development. In Haier's case, it amounts to 5% of revenue.
He says Haier has no plans to increase its 20% stake in the company, which he describes as very innovative.
Fisher & Paykel items will be introduced to China through Haier stores as a luxury brand. Mr Carmichael says the market for these goods is growing fast.
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