Hisense Doubles Foreign Revenue to $12.2 Billion in 4 Years

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The brand now boasts 36 production bases, 30 research and development centers, and 64 offices outside China.

Hisense’s overseas business revenue is set to surpass $12.2 billion for the fiscal year 2023-2024, doubling the figure from four years ago. This remarkable achievement was announced during the Group’s 55th anniversary celebrations, where the company also outlined its ambitious future plans.

Over the past five years, Hisense has significantly expanded its global footprint and achieved notable technological advancements. Key factors driving this growth include the acquisition of SanDen Corporation and the development of AI-based image quality chips. These initiatives have enabled Hisense to penetrate new markets and enhance its technological capabilities. Consequently, Hisense’s overseas revenue has more than doubled since 2019, and the Group’s total revenue is projected to exceed $28.7 billion in 2023

LG Electronics Reports Record Sales

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LG Electronics announced its confirmed results for the third quarter on Oct. 24, revealing a complex financial landscape marked by record sales but a significant drop in operating profit. The company reported consolidated sales of 22.1764 trillion won, a 10.7% increase compared to the same period last year and a 2.2% rise from the previous quarter. However, operating profit fell by 20.9% year-on-year to 751.9 billion won, primarily due to increased logistics and marketing costsThe Home Appliance & Air Solution (H&A) Business Division recorded sales of 8.3376 trillion won and an operating profit of 527.2

Groupe SEB financial update

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Groupe SEB releases its 2024 nine-month sales and financial data Solid Growth in Q3 on a demanding comparison base, full-year outlook confirmed: ✅Nine-month sales: €5,725m, +5.6% LFL* and +3.5% reported ✅ Third-quarter sales: €1,985m, +4.0% LFL and +3.4% reported ✅Nine-month Operating Result from Activity: €444m, +14% ✅Nine-month operating margin: 7.8% vs 7.0% in 2023 ✅Outlook for 2024 confirmed: – Organic sales growth of around 5% – Operating margin close to 10% *On a like-for-like basis (organic) 📣“Sales momentum was strong in the first nine months of the year, and we continue to generate robust organic growth in the third quarter. Small Domestic Equipment markets have remained buoyant in recent months. In this context, the Group’s sales growth accelerated and was bolstered by the rollout of innovations, in particular in Western Europe and North America. Sales in Professional decreased compared to an exceptional third quarter last year, reflecting the phasing of large deals rollout. The core business excluding large deals, however, has seen a noteworthy increase over the quarter. Our Operating Result from Activity rose by 14% over the nine-month period.

Alfa Forni new electric Pizza oven

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Alfa Forni’s newest electric oven is finally here! After revolutionizing the world of wood-fired and gas ovens, we proudly present Urbe, a masterpiece of technology and design. Elegance, functionality, and uncompromising performance for a perfectly baked pizza every time. Up to 10 pizzas in a row with no loss in performance, precise temperature control, and our signature refractory brick for even cooking.

With Urbe, you’re not just making pizza, you’re creating a unique experience where every meal becomes a celebration of flavor and style

Haier ID Series Steam Collection,

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Introducing the new Haier ID Series Steam Collection, featuring innovative Bionic Steam solutions that elevate dish flavors and transform ingredients into gourmet creations.

Delicate Flavour Steam creates a gentle cloud of steam, enhancing flavors, spices, and the freshness of ingredients while perfectly roasting meats and vegetables.

Round Flavour Steam is perfect for baking bread, preserving nutrients and flavor while ensuring a crunchy yet soft texture.

Intense Flavour Steam features a 1-liter removable tank for extended steaming, perfect for enriching the flavors of meats and stews.

Pure Flavour Steam adjusts steam levels for versatile preparations, from simple steamed vegetables to sophisticated sous vide.

New energy labelling rules to improve quality of information for consumers

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Starting on 22 October 2024, digital identity verification will become mandatory for all suppliers registering their product models in the European Product Registry for Energy Labelling (EPREL) under implementing rules adopted earlier this year.

The verification requirement will help guarantee the quality, reliability and usefulness of the information provided to consumers and public authorities via the EPREL database, where all energy-labelled products must be registered by suppliers when placed on the EU market. Unverified suppliers will no longer be able to register products, and any products placed on the market by unverified suppliers after this date will not appear in general searches in the EPREL database

Midea eyes bigger global market share

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Midea Group, the world’s largest maker of white goods by sales, is eyeing significant global expansion of its sales network to encompass 40 countries by 2025.

Fresh off raising US$4.6 billion in Hong Kong’s largest initial public offering (IPO) in more than 3 years the Foshan-headquartered company is looking to markets like Saudi Arabia, Brazil and Africa as part of a focus on burgeoning economies with substantial growth potential, according to Lewis Fu, the company’s president of international business.

The company, which gets almost half of its revenue from overseas markets, relies on outside retail operators in some regions. But it plans to expand its global operations and do a “better job” with its own retail network, particularly in emerging markets where the “growth potential is large”.

“Currently, we have our own sales subsidiaries and organisations in about 30 countries worldwide,” Fu said during a press tour on Thursday. “In the future, we will expand to more than 40.Midea has about 44 manufacturing bases worldwide, half of which are outside China, with more manufacturing facilities “under way in the coming years”, Fu said.

Galanz launch new products are Canton fair

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First phase of the 136th Canton Fair, held from October 15-19, is underway. The Electronics & Appliance Category features over 3,000 exhibitors, with a total of 193,700 products uploaded to the online platform which marks a 47.41% increase compared to the previous session.Galanz, a key exhibitor, is showcasing over 200 products across more than 10 categories, including integrated appliances such as microwaves, refrigerators, and smart home solutions. “At this session, Galanz’s exhibition booth is the largest it has ever been,” a Galanz representative stated.

Pasell’s new plant in Manisa, Turkey,

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Pasell’s new plant in Manisa, Turkey, once again shows the company’s ability to follow the customer to the places where production takes place. But that’s not all. Pasell, in fact, also supports home appliance players with its know-how, gained in fifty years of activity.

For more than two decades, Pasell has demonstrated its ability to successfully undertake internationalization paths to support customers abroad as well. The Italian company, whose core business is counterweights for washing machines, has gradually extended its presence in the main European household appliance markets, flanking its production site in Forino, in the province of Avellino, with factories in Poprad (Slovakia), Radomsko (Poland ) and Istanbul (Turkey). Just in the latter Country, Pasell is opening a new plant, in Manisa. It will replace the one located in Istanbul. The reason for this choice is explained by Francesco and Roberto Amitrano, CEO and President of Pasell, respectively. In the case of Manisa, our new factory will specifically serve customers Arçelik (Beko Europe) and Vestel, two giants in the world of household appliances.