Haier’s Acquisition of GE gives Company Competitive Edge
Haier reached an agreement with General Electric to purchase GE’s appliance business for US $5.4 billion on January 15. According to Euromonitor, GE will offer Haier the chance to speed up its global expansion. GE already has a lucrative brand name in the United States, where major appliances make up 10 percent of the global volume. Chinese brands are traditionally less known and associated with low-quality internationally, and with GE’s focus on energy-efficient appliances, the acquisition gives Haier a competitive edge in designing these types of appliances.
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