Tag Archives: midea

WORLD’S FIRST MATTER-CONNETED DISHWASHER SHOWN BY MIDEA

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WORLD’S FIRST MATTER-CONNETED DISHWASHER SHOWN BY MIDEA

Matter is the foundation for connected things. This industry-unifying standard has a promise of reliable, secure connectivity – a seal of approval that devices will work seamlessly together, today, and tomorrow – guided by the Connectivity Standards Alliance (the Alliance), whose members come together from across industries to transform the future of connectivity.

After being among the first companies to achieve Matter certification for an air conditioner and to demonstrate a Matter-connected fan purifier, Midea continues to show its commitment to the industry-unifying standard with the demonstration of the first Matter-connected dishwasher at the Alliance Member Meeting in Boston from June 19th to 22nd.

“At Midea we are focused on creating surprisingly-friendly smart products that are not just smart for the sake of being smart but offer real benefits. Allowing users to seamlessly operate their Midea smart home appliances in tandem with other third parties through the Matter standard is at the heart of that,” said Patrick Serrato, Head of IoT at Midea America Corp. and Alliance Board Member, “We started out last year with one of the first Matter certified air conditioners, followed that up by presenting one of the first Matter connected fan purifiers earlier this year, and now we are demonstrating the first Matter connected dishwasher. We are committed to Matter and we will continue until all our product categories are Matter certified.”

Even without Matter, the latest dishwasher from Midea already boasts a host of surprisingly-friendly smart features that make users life easier including being able to control your dishwasher from wherever you are through the app as well as receiving timely reminders straight to your phone when it is time to clean your dishwasher.

Now with Matter, the Midea dishwasher offers a fast and secure setup that is unified so users can follow the same process to get connected no matter whether it is their dishwasher, lightbulb, or door lock. Once set up, the dishwasher will be able to connect with other devices that support Matter in the rest of your home regardless of brand. As the world’s first dishwasher to be able to connect to Matter, the latest dishwasher from Midea represents a milestone by bringing an essential home appliance that is used every day into the Matter family.

Midea air station

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These days we all want more from our devices. Well, now you can have a standing air conditioner that not only keeps you cool, but combines the functions of a dehumidifier, humidifier, aircon, ventilation fan,and air purifier all into a single device. The Midea Air 5D Space Station Air System comes with a 3L water tank with a silver ion coating, ensuring cleaner and safer water storage.

With the Microclimate Sensory Mode that scientifically adjusts all five properties of air climate: air flow, humidity, temperature, purity, and freshness, taking control of your indoor climate is only a click away.

According to Midea, the Midea Air can purify an apartment by effectively removing 99.5% of PM2.5 articles with its sterilisation technology in 15 minutes.

Electrolux update

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After 2 very favorable years for its business, as for all home furnishings, Electrolux has been in difficulty since the end of the health crisis. The Swedish group had launched a cost reduction plan in September 2022, which mainly concerned Europe and North America, with the aim of improving the profit of 2023, recalls Reuters . The Swedish manufacturer would have separated from 4,000 employees in October (8% of its workforce) to “reduce costs, cushion the fall to come and leave serenely” , and specify LSA. Electrolux even closed 2 factories in Hungary (refrigerators) and in Memphis in the USA (ovens). The group recorded some €12 billion in sales in 2022, but a net loss of €116 million. Its turnover was up by 9% in the 1st quarter of 2023, but with a further loss of €52 million.

According to the Bloomberg agency , the Chinese household appliance giant Midea (€45.4 billion in sales in 2022, +0.8% vs 2021) would be interested in acquiring Electrolux. Following this announcement on May 2, Electrolux shares gained around 4% on the Stockholm Stock Exchange, and were at the top of the Stoxx 600. Note that Midea had helped the manufacturer to introduce the AEG brand on the Chinese market . in 2016. According to Reuters and Bloomberg , analysts at JPMorgan questioned whether such a takeover would gain regulatory approval after geopolitical concerns escalated over the Ukraine crisis, given that the United States is the largest market from Electrolux.

According to Bloomberg , Samsung is another potential buyer of Electrolux. “Here we see a bit lower regulatory risk, but Samsung has already built its ecosystem in the West and we believe Electrolux would add little value to that,” JPMorgan said through Reuters , picked up by Boursier.com . Paul Palmstedt, spokesman for Electrolux, has not commented on these elements since May 2. No comment either from Midea, to date…

According to the Bloomberg agency , the Chinese household appliance giant Midea (€45.4 billion in sales in 2022, +0.8% vs 2021) would be interested in acquiring Electrolux. Following this announcement on May 2, Electrolux shares gained around 4% on the Stockholm Stock Exchange, and were at the top of the Stoxx 600. Note that Midea had helped the manufacturer to introduce the AEG brand on the Chinese market . in 2016. According to Reuters and Bloomberg , analysts at JPMorgan questioned whether such a takeover would gain regulatory approval after geopolitical concerns escalated over the Ukraine crisis, given that the United States is the largest market from Electrolux.

According to Bloomberg , Samsung is another potential buyer of Electrolux. “Here we see a bit lower regulatory risk, but Samsung has already built its ecosystem in the West and we believe Electrolux would add little value to that,” JPMorgan said through Reuters , picked up by Boursier.com . Paul Palmstedt, spokesman for Electrolux, has not commented on these elements since May 2. No comment either from Midea, to date…

Midea in numbers

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Revenues: $50 billion growth in Q1: profits equal to 8% of revenues and colossal investments in R&D. group presents its 2022 financial statements together with the first quarterly report for 2023. In 2022, the company’s total turnover reached 345, 7 billion Yuan (about US$50 billion), an increase of 0.7% year on year. However, net profit of 29.6 billion yuan (8.6% of revenue) increased by 3.4% over the previous year.

In the first quarter of 2023, Midea increased its revenue by 6.3% and its profit by 12% compared to the same period last year.

Founded in 1968, Midea is not only a leader in the household appliances sector. Its five business segments are smart home, building technology, electromechanics, robotics and automation, and digital innovation. It has spent nearly 50 billion yuan at its 35 R&D centers over the past five years. It has 35 major manufacturing bases around the world.Midea exports 41% of turnover (up in 2022 as domestic market shrinks) and ranks first in China in terms of market share for several product categories both online and offline, including air conditioners, ovens countertop microwaves, countertop ovens, electric stoves, induction cookers, electric kettles, etc. One out of three air conditioners sold in China is made by Midea

Midea Confirms It Has Made Takeover Bid for Sweden’s Electrolux

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Midea Group has confirmed a media report that said the Chinese home appliance behemoth has made an initial takeover approach for Swedish competitor Electrolux.

“A deal is being discussed, but no decision has been made yet,” the investor relations department at the Foshan-based company said. A public relations officer at Electrolux China declined to comment.

Midea is exploring the potential acquisition of Electrolux, Bloomberg News reported on April 30, citing people familiar with the matter. The Chinese firm has made a preliminary approach in recent weeks about a possible deal, but Electrolux has not been receptive to the proposal so far, the sources added.

The acquisition would help Midea make up for its weaknesses in the mid-to-high-end markets overseas, an industry insider told Yicai Global.

Regardless of the outcome of Midea’s approach, global home appliance giants are moving production to European and American countries such as Mexico and Türkiye, so Chinese home appliance makers will have to improve their global industrial chain positioning, said Zhou Nan, secretary-general of the home appliances branch of the China Chamber of Commerce for Import and Export of Machinery and Electronic Products.

Midea and Electrolux joined hands in 2016 to bring German kitchen appliance giant AEG to China and acquire the white goods business of Japan’s Toshiba. In 2017, Midea bought its first stake in Kuka and then acquired the remaining 5 percent it did not yet own in the German industrial robot maker last November.

Electrolux owns the Electrolux, AEG, Zanussi, Frigidaire, Eureka, Flymo, and Husqvarna brands. It ranks fourth with around a 10 percent share of the western European market, according to a research report.

The Swedish firm reported a 3.6 drop in operating revenue to USD13.4 billion last year from 2021, with 34.5 percent of the total coming from Europe and 34.9 percent from North America. It turned a SEK4.7 billion (USD462.2 million) net profit into a SEK1.3 billion net loss in the period.

Midea posted CNY343.9 billion (USD49.7 billion) in operating revenue for 2022, up 0.8 percent from the year before, and CNY29.6 billion (USD4.3 billion) in net profit, a 3.4 percent increase.

Midea Floor Scrubber X6

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Take your cleaning to a new level: with Midea’s innovative scrubber dryer you can vacuum and wash your floors in a single step. Equipped with fibers, bristles and self-traction force, the integrated brush is designed to remove all types of dirt, debris and stubborn stains.

Double tank systemDirty water and debris are collected in a separate tank, to ensure that your floors are always cleaned with clean water.

Easy controlTo ensure even easier use, the buttons are located on the handle.

Autonomy The latest generation batteries allow long-lasting performance

Midea’s Revenue in 2022

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In 2022, Midea ranked first in China in terms of market share for several categories of products both online and offline.headquartered in Foshan, Guangdong Province, recently released its 2022 annual report and 2023 quarterly report. In 2022, the company’s total revenue reached CNY 345.7 billion (USD 50 billion), an increase of 0.7% year-on-year, with a net profit of CNY 29.6 billion, 3.4% higher than in the previous year. In the first quarter of 2023, Midea achieved total revenue of CNY 96.6 billion, up 6.3% year-on-year, and achieved net profit attributable to its parent of CNY 8 billion, an increase of 12.0% from the same period last year.

Founded in 1968, Midea is one of the leading companies in the electrical appliance industry. Its five business segments are smart home, building technology, electro-mechanical, robotics & automation, and digital innovation. It has spent nearly CNY 50 billion on research and development in the past five years and provides services to over 400 million users worldwide each year. Up until now, Midea has about 200 subsidiaries, 35 R&D centers and 35 major production bases worldwide, with operations in more than 200 countries and regions.

In the overseas market, which accounts for up to 41% of its overall revenue, Midea’s 2022 overseas sales revenue reached CNY 142.65 billion, up 3.63% year-on-year. Midea ranked first in China in terms of market share for several categories of products both online and offline, including air conditioners, countertop microwaves, countertop ovens, electric heaters, induction cookers, electric kettles, etc. Among them, Midea’s offline share of air conditioners reached 33.7% of the total market share and its online share reached 33.6%.

Based on current industry trends, Tan Xiguang, chairman of Midea, believes that the electrical appliance industry is heading to a more intelligent, more efficient and greener future. In February 2023, Midea was listed among the “2022 Forbes China Top 50 Sustainable Development Industrial Enterprises”. Besides, Midea is increasing investment in R&D, constantly launching innovative products, and cooperating with technology companies to jointly explore new trends in the home appliance industry.