Tag Archives: midea

Electrolux rumours

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There have been rumors about the sale of the Swedish company for some time now

“we don’t comment on rumors,” Electrolux PR manager Paul Palmstedt told the Swedish financial publication Privata Affaerer .

Chinese company Midea had been rumoured to be interested

Electrolux is not sailing in good waters at the moment. It loses on the North American market and does not gain on the European one which is suffering from weak demand. Things are going better in the professional segment and partly in the built-in segment, sure, but the cost base is high and making margins isn’t easy.Midea has repeatedly stated that it sees its future in high value-added productions such as advanced robotics and automotive. It is said that you intend to invest money and intellectual resources in a business like ‘white’ which will be stagnant in the next few years at best.Electrolux collaborates with Midea in China to promote AEG without the need to exchange shares. One can think of a partial entry of Midea into the shareholding structure of Electrolux, or of joint ventures for the marketing in Europe (and in the USA) of products made by Midea but conceived and sold by Electrolux.

MIDEA SHOWCASES INNOVATION AND CONNECTIONWITH THE WIRELESS POWER CONSORTIUM

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Small Appliances Demonstrate the Capabilities of the Ki Cordless Kitchen Standard

Midea is excited to announce it will exhibit innovative prototype kitchen appliances during the consumer electronics industry’s largest tradeshow – CES 2023, January 5-8, 2023 in Las Vegas, NV. As part of the Wireless Power Consortium’s – a global standard development body for wireless power – booth (Tech West, Venetian Expo #53529), Midea’s prototype appliances, including a blender and electric kettle, will be displayed in the emerging Ki Cordless Kitchen which builds on the success of the Qi standard for wireless charging. The appliances are activated by special transmitters hidden beneath both glass induction cooktops as well as non-metal countertop surfaces to create a convenient, sleek, ultra-modern design for the kitchen. The appliances are then powered by inductive power transfer with no cords to get in the way.

“As the connected world continues to evolve, Midea is proud to be at the forefront of innovating by providing consumers with smart, connected solutions that serve a purpose in people’s everyday lives,” said Kurt Jovais, president of Midea America Corp. “The Wireless Power Consortium supports our mission and is revolutionizing the industry with its Ki Cordless Kitchen. We look forward to working together to elevate the at-home experience with smart technology in our users’ homes.”

This collaboration is built on proven technologies and guided by the Wireless Power Consortium whose members come together from all parts of the industry and all parts of the globe to create worldwide compatibility of all wireless chargers and wireless power sources.

“The Ki Cordless Kitchen standard eli minates the clutter of cords that come with small appliances, creating a more convenient, safer and sleeker designed kitchen,” said Paul Golden, Marketing Director, Wireless Power Consortium. “We’re excited to have Midea as part of our Ki Cordless Kitchen, a company with ground-breaking home appliances that homeowners rely on worldwide.”

The new Ki Cordless Kitchen wireless power standard is currently in development. More information can be found by visiting WirelessPowerConsortium.com/Kitchen. And for additional details on Midea and its entire portfolio of appliances, please visit Midea.com.

Midea on the Board of Connectivity Standards Alliance

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Midea Group announces that it has joined the Connectivity Standards Alliance , becoming a new member of the Board of Directors, to live up to its vision of improving consumers’ lives through universal and interconnected technology. In this context, Midea Group hopes that more and more companies will join in supporting the integration with Matter, the unique protocol of the Connectivity Standards Alliance that allows the most diverse IoT devices and smart appliances to communicate effectively.By joining the Connectivity Standards Alliance team, Midea Group will be at the forefront of promoting collaboration between all consumer electronics and smart home appliance brands, so that everyone can experience universal connectivity. As an industry leader, it is imperative that all of our brands’ smart appliances work effectively in tandem with connected devices from other global brandsMidea Group joins the Connectivity Standards Alliance together with other important companies in the sector and will collaborate in the creation of a universal connectivity protocol for all operators in the sector. Founded in 2002, the Connectivity Standards Alliance has been a leader in creating global open standards like Matter, building the foundation and future of IoT. With a broad membership of more than 500 different companies contributing market-proven technologies and best practices, and the 29 companies on the Board of Directors, the members of the Connectivity Standards Alliance have worked together for nearly two decades to simplify and increase the compatibility of the ‘IoT and concretely improve people’s lives.

Midea starts work on new heat pump plant in Italy

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Chinese home appliance maker Midea Group began construction of a new base for the production and research and development of heat pumps in Feltre, a town of Veneto in northern Italy, on Friday, aiming to help facilitate its international market expansion.

The new base, with an investment of 60 million euros ($58.75 million), is located inside a production area of Italy’s Clivet, a European leading company that designs, produces and distributes systems for cooling, heating, air ventilation and air purification for residential, commercial and industrial markets.

Midea acquired an 80 percent stake in Clivet in 2016, aiming to expand its presence in the European central air conditioning market

Midea hit by hackers

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REvil says they breached electronics giant Midea Group
Hackers claim to have stolen around 400 GB of data, including firmware source code and financial data. If confirmed, the hit would be REvil’s biggest in months.

Notorious hacker cartel REvil, labeled dead for several months, appears to have come back to life. The group says it has breached Midea Group, a major Chinese electrical appliance manufacturer.Midea Group employs over 150,000 people, owns over 200 subsidiaries, and boasts a revenue of over $53 billion. The company claims to be ranked 245 on the Global Fortune 500 list.

The company owns a majority stake in German company KUKA, the world’s largest robots and appliances producer.

Midea financial report

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Midea released its financial report for the first half of 2022, showing semi-annual revenue growth from 5.0% to RMB183.7bn. Net profit growth was even faster than revenue, coming in at RMB 16bn with a YoY 6.6% increase.

“China-Based Supply for the World + Local Supply”

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Balanced in both ToB and ToC businesses, Midea Smart Home revenue during the first half of 2022 was RMB126.9bn. According to AVC, Midea home appliance products ranked 1st during the first half of 2022 in both domestic online and offline market shares among 7 household appliance categories, including air conditioners and microwave ovens.

Industrial Technology achieved a revenue of RMB12.1bn with 13.3% YoY growth, and Midea’s global market of residential AC compressors increased to 44%, representing the 1st worldwide. The unit sales of motors for residential ACs and laundry appliances accounted for 42% of the global figures.

Midea growth

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Growing by 20% in 2021, the Chinese group had a turnover of about 50 billion euros last year and invested over 7 billion in the last five years in Research and Development.

Midea in 245th place among the Fortune 500
Growing by 20% in 2021, the Chinese group had a turnover of about 50 billion euros last year and invested over 7 billion in the last five years in Research and Development.

Midea in 245th place among the Fortune 500
Midea climbs to 245th place in the 2022 version of the ranking of the world’s 500 largest companies drawn up annually by Fortune. The turnover of the Chinese group grew by 20.06% in 2021, reaching an all-time high of 343.4 billion yuan, equal to about 50 billion euros at the current exchange rate.

As reported in a press release from the group , Midea pursues the goal of “Technological Leadership” and accelerates its transformation based on technology in all sectors of intervention. In the home appliance under the banner of the ‘smart home’ you are committed to providing the best experience of appliances and services for the whole home through the use of IoT and AI technology.

The Midea Group employs 160,000 people, of which over 30,000 are outside China. Over the past five years, Midea has invested nearly 50 billion yuan (7.2 billion euros) in research and development and has 35 research and development centers and as many manufacturing bases around the world. Midea products and services are used and appreciated by 400 million consumers in over 200 countries and regions.

Midea to remain in appliance industry

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Midea partially confirms the rumors that were circulating. It will proceed with disposals, plant closures and layoffs but not in the household appliances sector which remains one of the 5 divisions on which the Chinese giant (165,000 employees, 51 billion dollars in sales) intends to focus its future. The shareholders’ meeting on May 20, President Paul Fang announced that the company has decided to keep the home appliance business and to give up the categories of products for mom and baby and for pets.

The group is concentrating investments on B2B sectors with a higher technological content such as robots and industrial automation, batteries, technologies for construction

Midea Group

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Midea Group published the 2021 annual report. Despite the pandemic’s numerous hurdles, we still achieved RMB29 billion in net profit, a YoY increase of 5.5%. The total revenue grew 20.2% in 2021, reaching an all-time high of RMB343.4 billion.

The Canton Fair is online until April 24, 2022

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China Import and Export Fair, also known as Canton Fair, started its 131st edition that will be also online on April 24, 2022. As Xu Bing, spokesperson of the Fair, deputy director general of China Foreign Trade Centre, explained in the opening cerimony, Themed facilitating the “dual circulation” of domestic and overseas markets, the event is held from April 15-24 online. The exhibition offers an online display platform, business matchmaking services, and a cross-border e-commerce zone.

The electronic and home appliances exhibition zone hosts about 2,600 companies with 140,000 products. Among the protagonist brands, the event was attended by Haier, Hisense, Gree, Midea, Changhong, TCL, and others.