Chinese home appliance maker Midea Group will increase investment in localized research and development, and expand its footprint in Southeast Asia, Latin America and the Middle East.

The move is part of Midea’s strategy to grow new sources of revenue and make its brand influential abroad.Midea started as an OEM or original equipment manufacturer at the early stage in North America, but determined to develop company-owned brands in an attempt to enhance its core competitiveness globally. Currently, Midea’s household air conditioners command a 60 percent market share in North America.