Haier

Haier India expects up to 30% growth in festive season aided by GST cuts

Haier Appliances India, an appliance & Consumer electronics maker, expects around 25 to 30 per cent growth this festive season, helped by GST reduction on large screen TV sets and room-air conditioners, its President NS Satish has said. The company, which is investing Rs 1,500 crore in its Greater Noida-based plant and scouting land for a new factory in South India to cater to the domestic and export opportunities, said this GST reduction is expected to increase the localisation drive and 'make-in-India' project. "Definitely, the GST benefit will increase the consumption. So as the consumption increases, the scale of production also goes up. So, obviously, the investment, which we had already planned, will take it on a faster track," Satish told PTI. According to Satish, this GST reform is "one of the boldest moves" by the government of India to boost the economy. Earlier this month, the government, as part of its next-generation GST reforms, reduced the duty on TV screens above .

Sunil Mittal, Warburg Pincus in exclusive talks for Haier India's 49% stake

Both Mittal-Warburg and the Chinese parent firm will hold an equal share and exercise joint control, with the remaining 2 per cent staying with employees

Airtel's Sunil Mittal in talks to buy 49% stake in Haier India for $2 bn

Bharti Airtel's Sunil Mittal has partnered with private equity firm Warburg Pincus to acquire the stake Haier India, and a deal could be signed in a few weeks, Bloomberg reported

AC companies likely to raise prices by 4-5% due to component shortages

Haier, the third-biggest home appliances maker in the country with a close to 10 per cent share in the AC market, is ramping up capacities to address increased demand in the coming period

Haier targets $2 billion sales in India in 3-4 years, to invest Rs 1,000 cr

Haier Appliances India looks to become a USD 2 billion sales company in the next 3-4 years on the back of a high double-digit growth powered by expansion in product category and channels, according to a top official. The home appliances maker has earmarked an investment of over Rs 1,000 crore between 2024-2028 to set up new AC Production and Injection Molding Units. It has already ploughed in Rs 2,400 crore in its plants at Pune and Greater Noida so far. With this new plant, Haier India's capacity would increase to 4 million units per annum from the present 1.5 million units, besides increasing domestic value addition. "Currently we have a capacity of 1.5 million. However, the way the AC market is growing here, by 2027 we will have a shortage in capacity. The new plant will be 2.5 million units," Haier Appliances India President NS Satish told PTI on Sunday. Haier is also looking to set up a plant in South India and will announce the planned investment soon. Without sharing any .

China's Haier plans joint venture with JSW group, plans Rs 1k cr investment

Haier Group, a leading Chinese appliances manufacturer, has plans to set up a joint venture with India's JSW Group envisaging a proposed investment of Rs 1,000 crore, sources said. The proposal of Shandong-based Haier Group has been submitted to the government as it attracts Press Note 3 of 2020, under which all firms in countries that share land borders with India need mandatory government approval. The source said the proposal was put up before the committee that scrutinises such applications. There is an inter-ministerial committee headed by the Home Secretary to consider applications under the press note. Countries which share land borders with India are China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar and Afghanistan. An email query sent to both companies remained unanswered. Last year in November, the USD 24-billion JSW Group signed a JV with China's auto major SAIC Motor to acquire a 35 per cent stake in MG Motor India. The JV was named JSW MG Motor India Private Ltd.

AC sales may touch new record of 14 mn units by end of 2024: CEAMA

The blistering heatwave this year has skyrocketed the demand for room air-conditioners across the country, expecting a record annual sale of around 14 million units, according to the Consumer Electronics and Appliances Manufacturers Association. The industry had "record-breaking figures" for sales of air-conditioners in May and expects a surge of 30 to 40 per cent in volume growth in summers alone, Consumer Electronics and Appliances Manufacturers Association (CEAMA) President Sunil Vachani told PTI. Soaring temperatures and heat waves have now made AC a "quintessential requirement" for households across urban areas, he said. The Indian AC market is also evolving helped by energy-efficient models that are suitable across income brackets and by investment by the companies in indigenous manufacturing units of components. "As the market evolves, we expect annual sales volumes to be around 14 million units, highlighting the sector's robust expansion," Vachani said. The Indian resident

Haier C11 OLED TV with Dolby Vision IQ launched in India: Know price, specs

The Haier C11 OLED TV is offered in 55-inch and 65-inch display options at Rs 1,69,999 onwards

Haier's IITGNL unit receives govt approval, Rs 400 cr investment expected

The phase two expansion of Haier Appliances unit in the Integrated Industrial Township of Greater Noida Limited (IITGNL) has been approved, government officials said on Friday. The company is expected to make an investment of Rs 400 crore and generate employment opportunities for 1,000 people in the second phase of development, the officials said. The development comes after a recent visit of UP Industrial Development Minister Nand Gopal Gupta, who noted that several investments in Greater Noida were stuck due to pending map approvals of companies. "Haier Appliances, located in the Integrated Industrial Township of IITGNL, after constructing the first phase unit and starting production, is now going to start the construction of the second phase unit," Greater Noida Authority CEO NG Ravi Kumar said. "The map has been approved for the construction of Haier's Phase 2 unit. Now construction is going to start soon," Kumar, also the managing director of IITGNL, said. According to the ..

Haier offices raided by income tax authorities at multiple locations

The raids, conducted on Friday, are in connection to suspected tax evasion case

Consumer durable firm Haier aims Rs 10,000 cr turnover in next two years

Consumer durable firm Haier India on Wednesday said it is targeting a turnover of Rs 10,000 crore in the next two years. Haier, which had closed last year at Rs 6,000 crore, expects a "growth of 40 per cent and 30 per cent in revenue in the years 2023 and 2024, respectively," said a statement from the company. With its strong presence in refrigerators and washing machines, Haier India plans to take lead in air conditioners and TVs as their next biggest growth drivers for the Indian market, it added. Haier India's market outlook is backed by the persistent commitment to product innovation and building manufacturing excellence in the industry, the company said. By "leveraging a strong research arm to assimilate market feedback and technology-driven solutions by global R&D", Haier India has built the widest portfolio of home appliances in the consumer durable industry. "In line with customer demands, Haier has constantly brought the best-in-class products to India by consistently ...

Television prices likely to rise 3-4% in June, say industry players

Prices of LED televisions are expected to rise by 3-4 per cent this month as cost of panels have gone up in the global market besides an increase in logistics expenses. It will be the second hike by the manufacturers in the last three months. In April, the prices were hiked due to a rise in operating cost on account of increased ocean freight charges, and domestic transportation costs. Brands such as Panasonic, Haier and Thomson are considering increasing the prices of LED televisions. Panasonic India & South Asia President and CEO Manish Sharma said that in line with the commodity price increase, "we are also looking at increasing prices for some of the products in the range of 3-4 per cent". Haier Appliances India President Eric Braganza said there is no other option than to increase the price. "The panel prices have gone up. Everyone has been left with no option but to increase the price. Panel prices of 32 inches, which are largely sold in India, and large screen sizes (such)

Chinese electronics brand Haier looks for glamour away from the spotlight

With three women sportspersons as endorsers, the Chinese consumer electronics brand is tapping into the appeal of underdog branding

Haier raises the brand bar, aims third spot in consumer durables market

Haier is the only Chinese player in the top five domestic consumer durable brands

Haier to invest Rs 30.69 bn to set up manufacturing units in Greater Noida

It has been allotted 123.7 acre of land in the DMIC Integrated Industrial Township Greater Noida (IITGN) project

Turning a market upside down: How Haier's new ad showcases USP of product

The company emphasises the fact that the campaign aims to shift focus from the "product" to "us as a nation"

Haier Group to invest Rs 32 bn in greenfield manufacturing plant in Noida

The new plant is projected to provide employment to 4,300 people

Haier's OEM under scanner for excise duty evasion

DGCEI officials seize LED TVs and washing machines worth Rs 40 cr from various godowns of the OEM and Haier

Haier India eyes trebling revenue to Rs 6,500 crore by 2020

Company is expecting to close the year with over Rs 2,000 crore revenue, has invested Rs 490 crore to expand capacity