Gree Electric Appliances of China has recalled 1.56 million dehumidifiers because of fire and burn risk, according to the U.S. Consumer Product Safety Commission.
The commission on Wednesday said there have been about 2,000 reports of the devices overheating and 450 fires reported, resulting in damage totaling more than $19 million.
“This recall involves 42 models of dehumidifiers with brand names Kenmore, GE, SoleusAir, Norpole and Seabreeze, manufactured between January 2011 and February 2014
Tag Archives: midea
Midea reports 10 pct revenue increase in Q1
Chinese home appliance giant Midea Group saw its revenue rise 10 percent year on year to 106.5 billion yuan (about 14.99 billion U.S. dollars) in the first quarter of 2024, the company said on Monday.
It was its highest quarterly revenue since the second quarter of last year, when it raked in 101.2 billion yuan, Midea said in a quarterly report.
The company raked in 9 billion yuan in net profit attributable to shareholders in the January-March period, up 12 percent year on year, it noted.
Midea has been expanding its new overseas channels and markets, and advancing its localized services. In the first quarter of 2024, the company’s overseas e-commerce retail sales increased by approximately 60 percent year on year
Electrolux in crisis?
Electrolux, a multinational company, finds itself in a challenging situation during the first quarter of 2024. Let’s delve into the details:
Financial Losses:
The company reported an operating loss of 720 million crowns for Q1 2024, a significant increase compared to the previous year’s loss of 256 million crowns.
This financial setback was partially offset by a decline in raw material prices.
Reasons Behind the Crisis:
Intense Competition: Electrolux faces fierce competition, particularly from Chinese competitors.
Promotions and Cost Pressure: To remain competitive, the company has had to run continuous promotions. Additionally, families worldwide have shifted toward low-cost products, impacting premium household appliances under the Electrolux brand.
North America’s Struggle:
North America, once a profitable market for Electrolux, now faces challenges.
Despite cost-cutting efforts, thousands of layoffs did not translate into profits due to high price pressure from Asian chains and importers in 2023 and Q1 2024.
Leadership Change:
CEO Jonas Samuelson has resigned, leaving the company.
The new organizational structure aims to streamline operations and reduce costs.
Speculation on Buyers:
Midea and Haier are rumored to be potential buyers for Electrolux.
In summary, Electrolux grapples with financial losses, leadership changes, and a tough market environment. The road ahead involves strategic decisions and adaptation to remain competitive in the global landscape.
Midea to acquire Arbonia HVAC businesses
Midea has agreed the €760m purchase of Swiss group Arbonia’s Climate Division, which includes HVAC businesses Sabiana, Termovent and Tecna.
The acquisition through Midea subsidiary Midea Electrics Netherlands BV follows an announcement by Arbonia at the end of February that it had received several “unsolicited expressions of interest” in purchasing its HVAC businesses
Record profits and margins for Midea in 2023
Midea Group closed 2023 with an 8.1% growth in turnover, reaching 373 billion yuan (around 48 billion euros) and above all a boom in cash flow: + 67% and in profits: + 14% at 33.7 billion yuan (4.3 billion euros). The gross margin of the Chinese group is in fact around 26-27%. Sales increased both in China (+9.9%) and in the rest of the world (+5.8%). Midea exported 151 billion yuan (19.5 billion euros).
Midea has 45% of the world air conditioning compressor market and is a leader in the Chinese washing market but is increasingly present in advanced technological sectors such as industrial automation and green technologies.Midea products have been exported to more than 200 countries and regions around the world, and the company continues to expand its production facility abroad, promoting the construction of production centers in Indonesia, India, Thailand, Brazil, Mexico, Italy , Egypt
Chinese firms target Korea with premium home appliances
Chinese home appliance manufactures such as Haier, Midea, and Xiaomi have begun retailing their products on South Korea’s largest online marketplace, Coupang, and offer after-sales service (AS) through the platform. Additionally, China’s Roborock led the domestic robot vacuum cleaner market last year with its product priced over 1.6 million won. Once perceived as “cheap” and budget-friendly, Chinese home appliances are now targeting the Korean market few years ago, Chinese electronics sold in Korea mainly consisted of small appliances like humidifiers and hair dryers, or low-cost imitations of premium products. Recently, however, premium items such as robot vacuum cleaners, high-end TVs, and refrigerators have emerged in the local market. The design and quality of these products are reported to be on par with Korean and Japanese counterparts, posing a significant threat to Korean companies’ premium offerings. A senior appliance company official noted that Chinese products are also aggressively entering the global premium market, utilizing a strategy similar to the approach South Korea once employed to catch up with Japanese appliance
Midea European Launch
Midea European Trade Conference 2024, taking place in Greece from March 20th to 22nd. At the event, Midea will showcase the latest contributions to the European home and kitchen markets by unveiling two innovative products: the Midea TastePro Oven and the Midea 2.0 Built-in Oven.
The Midea TastePro Oven and the Midea 2.0 Built-in Oven are innovative additions to modern kitchen technology, aiming to provide users with convenience, efficiency, and connectivity within their smart home setups. Designed to integrate into existing IoT ecosystems, these appliances offer improved control and flexibility for managing kitchen tasks without extensive setup, allowing for remote intervention using compatible devices beyond the home vicinity. At the European Trade Conference in Greece, Midea strategically positioned itself to offer European consumers a professional and inspiring cooking experienceMultifunctional Integration: The Midea TastePro Oven allows users to bake, roast, grill, and more, all within a single appliance. Conveniently transitioning between steaming, baking, and microwave functions, this multifunctional capability streamlines the cooking process.
Graphene Patent Technology: Leveraging advanced graphene technology, the Midea TastePro Oven ensures efficient and uniform heat distribution, resulting in precise cooking and consistent results.
XpressHeating Rapid Heat Technology: The Midea TastePro Oven, featuring XpressHeating rapid heat technology, reduces preheating time, expediting cooking while maintaining quality. With Matter intelligent linkage technology, it effortlessly integrates into smart home ecosystems, providing users flexibility and enhancing their kitchen experience
Midea 2.0 Built-in Oven
Ultra High-Temperature Grilling: Achieve superior results with grilling temperatures reaching up to 280 degrees Celsius, compared to the 250 degrees Celsius of traditional ovens.
72L Capacity with 5 Racks: With ample cooking space and multiple racks, users can prepare various courses simultaneously, ensuring constant and even heating for all dishes.
Speed Heating: Advanced fast preheating technology enables the oven to reach more than 250 degrees Celsius in just 7 minutes, saving users 30% of the usual preheating time. (Data derived from internal laboratory experiments)
A+ Energy Efficiency: Optimized program logic and a new cavity design maximize energy utilization by generating appropriate heat and preventing heat leakage, resulting in improved energy efficiency.
MIDEA air fryer
Midea‘s Two Zone Air Fryer Wins USA TODAY Reviewed Awards
Midea’s “Double Decker” Two Zone Air Fryer has earned the esteemed USA TODAY Reviewed Awards in the in the Inspired Home Show 2024, marking another success in culinary innovation.
The awards are independently selected by Reviewed’s editors. The “Double Decker” stood out thanks to its space-saving feature and its capability of fulfilling multiple functions in one small appliance. “This unique air fryer features a traditional air-fry basket above a toaster-oven style cavity,” Reviewed’s editor said, “combining the best elements of basket-style air fryers and air fryer toaster ovens.”
Equipped with 10 cooking functions ranging from air frying to dehydrating, this appliance exemplifies Midea’s commitment to delivering innovative solutions that enhance everyday living experiences.
Midea ups global investment
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.
Midea unveils new WASHBOT washer dryer with hidden robot vacuum
Midea has announced WASHBOT, a new combined robot vacuum cleaner and washing machine, which it claims is a world first. The company says it has designed the gadget to help save space in the home, with self-cleaning docking stations of popular models like the Roborock Q Revo Robot Vacuum and Mop taking up 19.2 x 13.4 (~488 x 340 mm) floor space and measuring 22-in (~560 mm) tall.
Another benefit of the combined washing machine and robot vacuum dock is a single connection point to your plumbing to cover clean water refilling and dirty water draining for both devices. The washing machine offers AI-powered gentle steam cleaning and can softly dry clothes at 42°C (~108°F). The robot vacuum is suitable for spaces up to 200 m² (~2,153 ft²), with features like obstacle detection and a nifty auto-cut system that helps remove tangled hair. The self-emptying docking station allows up to 60 days of hands-free cleaning, sanitizing the mop with hot water cleaning and hot air drying.
The machine is 600 mm (~24-in) wide, similar to other cabinets in your kitchen or laundry room. The Midea WASHBOT will soon begin crowdfunding on Indiegogo; the exact campaign launch date and pledge levels have yet to be revealed.
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