February 6, 2009
February 5, 2009
Haier’s Profit up 20.6% in 2008
| Jan 29, 2009 |
Haier reported its net profit up 20.6% last year, thanks to the Chinese central government’s initiative to subsidize purchases by rural residents. The group’s turnover increased 8% to 122 billion yuan (approx. US$17.8 billion) last year. Sales in overseas markets rose 9.8% year on year. Haier said it sold 1.2 million units of home appliances. It has 21,000 outlets in Chinese townships and 73,000 sales points in villages.
This brings up an interesting idea…why do we not have such a program in effect here? Goverment subsidies for purchasing American products. Hm-m-m…
