China’shousehold appliances manufactures suffer a latent overcapacity problem, whichslows down the economics growth. All counts on the internet thing andintelligent electronics devices as new perspective in this industry for thegrowth spurt, said Chairman of Midea Group, Fang Hongbo.
Midea,with 20 billion dollars’ revenue and 135,000 employees, is a prime example forchina’s private industry enterprises, which has written intensivetransformation process. It transits from an appliances manufacture to a fullrange technology konzern and be highly shimmy at the value creation.
Midea,the one founded in 1968 in Foshan which is the heart of pearl river deltas ofsouth China’s province Guangdong, has made a reputation in air-conditioningtechnique. As China’s market leader in compressed air-conditioning devices,microwave devices and rice-cooking machines, Midea has made all appliancesadapted into China’s household fields. According to an investment for researchand development of intelligent household appliances, Midea manages itself alsoas leading player in China’s smart home market. That can be seen simply fromthe fact that Chinese technology corporations almost falling over each tocontact with Midea, quoted by Fang.
Lastcompanies like Huawei, Xiaomi and IBM have cooperation agreements for servicescompleted around smart home with Midea. Xiaomi had obtained with theacquisition of a nearly 2 percent shares in Midea on the shareholders’ level partnership.According to Fang, Midea is building the collaboration with technology and ITcompany by 2017 to set up a platform forsmart services, to participate in the external provider of IT solutions. Itwill establish its own ecosystem.
Facingthe current Chinese People's Congress and their debated plans for a Chinese industryupgrading, it is possible not to refer to Mideas career. Mideas efforts in smarthome matters are wholly ideal in modernization for China's industry, which isto occupy much space in the new 15 plan of government